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What tax breaks have been promised by Bush as gifts to small businesses that buy SUVs?

April 26, 2017BREAKS Bush businesses buy gifts promised small SUVs tax

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What tax breaks have been promised by Bush as gifts to small businesses that buy SUVs?

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Thanks to the recent Bush tax cut, when businesses purchase an SUV (or other light truck) over 6,000 lbs., they can immediately deduct up to $100,000 dollars from their taxable income. These special interest tax breaks do not preclude businesses from taking the standard 20 percent deduction annually over five years. It is estimated that the original SUV tax break, recently expanded by Bush, which capped initial deduction at $25,000, cost the federal government between $840 million and $987 million yearly, making it one of the biggest tax breaks, per capita, in the U.S.23 Click here for more information.