A U.S. Senate bill introduced this week would give bigger breaks to small business owners who buy large SUVs.
In addition to allowing tax deductions of up to $100,000 for hybrid vehicles and vehicles that use fuel alternatives to gasoline, the new legislation would allow small business owners to claim depreciation on the value of their vehicles not covered by the deduction.
Tax deductionsfor SUVs weighing more than 3 tons have long been criticized by environmentalists who say they reward business people for buying gas guzzlers. Car dealers and small business owners argue these new SUV tax breaks will help businesses and automaking – key players in the health of the economy.
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