You know now that the stimulus package includes a sales tax credit for buyers of brand new cars and trucks (the provision for tax deduction of loan interest has been removed at the last minute). Logically AMA is asking lawmakers to add motorcycles in this stimulus plan. And of course I agree. Not only because sales of new motorcycles have been hit hard, but also because they are more fuel-efficient. easing traffic congestion and not damaging infrastructure as badly as 4-wheel vehicles. Do we need to organize a national coalition ride to the White House?
Update 02/13/09 at 11.30 am. Our government just announced that motorcycles will be included in the stimulus package. “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”.