One of the items in the new stimulus package that Congress is voting on this weekend affects new car buyers in the country. Authored by Barbara A. Mikulski, the Democratic Senator from Maryland, the new bill allows buyers of new cars to deduct the state sales tax and excise taxes on their returns next year if they buy a new car or other new vehicle during 2009. Could there be any better reason to consider a new Hyundai car this year?
“Everyone wants to save auto manufacturers, but now matter how much government aid we give to the…auto makers, they can’t survive if consumers don’t start buying cars,” Mikulski said of her proposal. She went on to say that her proposal “stimulates demand in the automobile industry so that people go to showrooms and buy cars.”
The tax break takes up more than $1.6 billion of the stimulus package and no longer has the interest deductions that her original plan had. The National Automobile Dealers Association supports the plan and has lobbied its representatives in Congress to help push the plan through.
Keep this in mind when you visit your Pottstown area Hyundai dealer in 2009. Deducting state sales and excise taxes is a great way to save money while enjoying a brand new car.