Outlook for Business Tax Credits

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Author: Stephen Barlas
Date: Sept. 2001
From: Strategic Finance(Vol. 83, Issue 3)
Publisher: Institute of Management Accountants
Document Type: Brief article
Length: 674 words

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SAGGING FEDERAL REVENUES DUE to the debilitated economy make it unlikely that Congress will pass much of a business tax credit bill to go with the individual tax credit legislation that already passed. Symptomatic of that uphill climb is the difficulty that a tax credit for alternative fuel vehicles faces. Given the new emphasis on energy conservation, one would think that kind of tax credit--and it goes to the consumer, not the manufacturer, of course--would be a political "gimme." Not so. Senator Orrin Hatch (R.-Utah) has a bill (S.760) that's being pushed by the Alliance of the Automobile Manufacturers. It would provide a tax credit of up to $3,000 per buyer of a hybrid vehicle, which uses a battery and a small internal combustion engine. Honda (the Insight) and Toyota (Prius) are already selling such vehicles. But when he appeared before the Senate Finance Committee on July 11, Jay Hakes, administrator of the Energy Information Administration under President Clinton (who, by the way, supported that credit , as...

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Source Citation
Barlas, Stephen. "Outlook for Business Tax Credits." Strategic Finance, vol. 83, no. 3, Sept. 2001, p. 21. Accessed 27 Oct. 2020.

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