Tax Break for Car Buyers Added to Obama's Stimulus Package
By
KSPR News
Story Created:
Feb 4, 2009 at 11:20 AM CST
Story Updated:
Feb 4, 2009 at 11:20 AM CST
WASHINGTON (AP) - Help for car buyers has been added to the economic recovery package as the Senate tries to fine tune it.
Senators voted 71-26 to give a tax break to many new car buyers. The measure was approved despite bipartisan concerns about the cost of the stimulus package. It now tops $900 billion.
A tax break for home buyers is in the offing today. GOP Sen. Johnny Isakson is pressing for a tax credit of up to $15,000 for everyone who buys a home this year, at a cost of $18.5 billion. The pending measure would award a $7,500 tax credit only to first-time homebuyers.
At the same time, centrist senators are seeking to cut tens of billions of dollars from the legislation.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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