Pataki to take back the "Hummer" tax break proposed by Bush
At least someone seems to have some sense in politics unlike George W.'s decision to provide ludicrous tax breaks to the rich under the guise of helping small businesses. According to this New York Times story (registration required) New York Governor Pataki is taking an appropriate action:
In his annual budget address on Wednesday, Governor Pataki will call for closing what he calls a loophole that has let doctors, real estate agents and others buy vehicles like Hummers and
Ford Excursions, then take a tax break intended mainly for farmers....Under Mr. Pataki's proposal, nonagricultural businesses in New York that claim the deduction for such a passenger vehicle on their federal tax returns would be required to restore the deduction to their state income statements and pay the state tax on it, a spokeswoman for Mr. Pataki said. The change could apply in the fiscal year that begins on April 1, 2004, if the Legislature approves it, the spokeswoman, Lisa Stoll, said.