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Program logo The Toyota Corolla was the program's top seller according to U.S. DoT The Ford Explorer 4WD was the program's top trade-in according to the U.S. DoT. The Car Allowance Rebate System (CARS), colloquially known as "cash for clunkers", was a $3 billion U.S. federal scrappage program intended to provide economic incentives to U.S. residents to purchase a new, more fuel-efficient ...
Honda Civic. Average cost: $9,000 (used) to $23,950 (new) Average combined mpg: 36. “The Civic’s reputation for reliability, coupled with its fuel efficiency, makes it an excellent investment ...
$15 billion: Expansion of child tax credit: A $1,000 credit to more families (even those that do not make enough money to pay income taxes). $14 billion: Expanded college credit to provide a $2,500 expanded tax credit for college tuition and related expenses for 2009 and 2010. The credit is phased out for couples making more than $160,000.
The full tax credit was available until the end of March 2019 and thereafter reduced gradually until complete phase out beginning on April 1, 2020. As of January 2021, 21 vehicles have access to full tax credit, depending on taxpayer's conditions. Several plugin-vehicles are also approved for significant credits.
What the average American retiree makes. Americans 65 years and older had a median annual income of $50,290 in 2022, according to the latest data froom United States Census Bureau. While this ...
Government incentives for fuel efficient vehicles in the United States. The U.S. Energy Policy Act of 2005 established a federal income tax credit of up to $3,400 for the purchase of new hybrid vehicles, purchased or placed into service after December 31, 2005. [1] [2] Vehicles purchased after December 31, 2010 are not eligible for this credit.
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