May 22, 2012
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Reporter: Mary Pulley

Car Buyer Tax Incentive

The U.S. Senate has approved an amendment to the Recovery and Reinvestment Act that would provide tax incentives to new car buyers. It's an effort to increase auto sales, which could help save three million auto worker jobs.

It is estimated that a couple would save approximately $1,500 on a $25,000 car.

Steven Toyota in Harrisonburg is down 30 percent in total sales compared to previous years. The company feels the buyer incentives will be good for business

"It's nice to have the additional cash down on a vehicle or a tax rebate. That's something that hasn't been done by the federal government or the state legislature in years. It's something that our customers will welcome with open arms," says Michael Benton, Steven Toyota General Manager.

This amendment adds $11 billion to the stimulus plan that was approved by the U.S. House last week.


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