Quote of note:
Instead of simply going to buyers of cars that get the best gas mileage, the tax credits are divided among manufacturers and allocated according to a complicated formula.
... Worse, it sets a quota for each manufacturer, with credits phasing out after 60,000 cars. Buyers will snap up the popular and gas-miserly Toyota Prius and certain Honda models, but as the credits for those dry up, consumers will be forced to turn to other manufacturers and cars. It sounds more like a business boost for Detroit than an effort to encourage the most fuel-efficient cars.
Hybrids don't need a push
August 13, 2005
AFTER SIGNING THE ENERGY BILL, it must have been a challenge for President Bush to come up with good things to tell the public about it. The package, after all, contains so much good news for industry, but so little for a nation addicted to foreign oil.
Cleverly, the president seized on two phrases everybody can love and put them together: "tax credit" and "hybrid vehicle." "The way the tax credit works," Bush said of the legislation's incentive to buy gas-electric hybrids, "is that the more efficient the vehicle is, the more money you will save."
Well, sort of.
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