Posted on 11/13/2008 8:37:29 PM PST by Last Dakotan
Radio talk show host Ed Schultz is calling on North Dakota political leaders to create a tax credit program to spur the state’s auto sales as talk centers nationally on a federal bailout of the U.S. auto industry. Schultz offered the idea Wednesday on his “News and Views” program on KFGO. Schultz said Americans “expect more action” to fix the economy and the sagging auto industry and that North Dakota’s projected $1.3 billion budget surplus means it can afford to give its citizens an incentive to buy vehicles. “We have to do something,” Schultz said. “We need to forward the discussion in the state. What can we do to help out an industry that’s responsible for $1.75 billion in retail sales in North Dakota annually?”
However, one legislative leader said a vehicle-buying incentive would have to compete against other statewide needs and wants, and, even if passed on a fast track, likely wouldn’t become law until late April or early May, perhaps too late for the boost the industry needs now. Senate Majority Leader Bob Stenehjem said homebuilders, farm implement dealers and others would also want tax credit deals. Plus, many programs now in place, such as higher education and human services, will also need more funding. The auto tax credit would have to find its spot in the “priority pecking order.” Schultz suggested that perhaps residents could get 10 percent of the purchase price of a new or used vehicle credited against their income taxes. “I’m suggesting we’ve got to pick a number. Buy a truck for $25,000, and a 10 percent tax credit, that’s $2,500 against your obligation to the state,” Schultz said. “In some cases, people buying a car might get some money back from the state.”
(Excerpt) Read more at in-forum.com ...
Oh yeah, the state with a population of 650,000 or so does have a surplus of 1.3 Billion.
I don’t get why gov’t want to spend tax dollars on a bail out. Why not just give the taxpayers their money back. They will save, spend or invest it. All are good for the economy right now.
True, didn't Arizona try something like this a few years back and stick it to themselves.
I heard he used to be a Republican and some speculate he still is!
That could be a possibility even though it’s far fetched. Bush was a RINO, and so was the “maverick” McCain.
You will be sent to the nearest re-education camp!
LOL!!! -- you are not the first person in the last week to tell me that! Once all my money is taxed away, at least in a re-education camp I will get some morcels of food to prolong my otherwise, drab, dreary life!
I'm from IL so I'm just saying....seems more sensible
If I need a sarcasm tag I'll shoot you with my 44-40.
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