Hey guys I was in class and browsing through CNN.com about the stimulus bill and here is what it says:
"Temporary deduction for car buyers: The bill would let those who buy a new car, light vehicle, recreational vehicle or motorcycle in 2009 deduct state and local sales taxes as well as any excise tax charged in the purchase. The deduction would be available to those earning less than $125,000 ($250,000 for joint filers). It will be an above-the-line deduction, meaning even taxpayers who don't itemize may take it in addition to the standard deduction. Estimated cost: $1.7 billion."
Perfect timing to buy a car or a motorcycle. Let's hope this bill get approved. But one thing I'm not clear about this is that does this apply to any brand of automakers or just certain ones?