CLINTON PROPOSING TAX BREAKS FOR ULTRA FUEL EFFICIENT VEHICLES.Byline: Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. President Clinton disclosed a five-year, $6.3 billion package of tax incentives and research Saturday to spur development of ultra fuel-efficient automobiles and other energy-saving technologies. Promising to ``mobilize cutting-edge technology in the fight against global warming global warming, the gradual increase of the temperature of the earth's lower atmosphere as a result of the increase in greenhouse gases since the Industrial Revolution. ,'' Clinton said the program will show that the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. can curb heat-trapping greenhouse gases greenhouse gas n. Any of the atmospheric gases that contribute to the greenhouse effect. greenhouse gas by conserving energy while preserving economic growth. ``Working together we will overcome the challenge of global climate change and create new avenues of growth for our economy,'' Clinton said in highlighting the proposal in his weekly radio address. A cornerstone of the program would give tax credits of $3,000 to $4,000 to buyers of the next generation of fuel-efficient cars to boost development of the vehicles expected to be up to three times as fuel efficient as today's models. Many automakers have said they plan to have cars in showrooms within seven years that run 50 to 70 miles on a gallon of gasoline. The climate-change package, an early step to comply with the global warming treaty agreed to in December in Kyoto, Japan, will be included in Clinton's fiscal 1999 budget to be announced To be announced (TBA) A contract for the purchase or sale of an MBS to be delivered at an agreed-upon future date but does not include a specified pool number and number of pools or precise amount to be delivered. Monday. Both the tax cuts and new spending must be approved by Congress. Sen. James Inhofe, R-Okla., one of the Kyoto treaty's sharpest critics, said Clinton's proposed incentives should be put on hold until the Senate decides whether to ratify the treaty. Clinton's climate package includes $3.6 billion worth of tax credits and $2.7 billion in additional spending over five years, beginning in 1999, on research related to the prevention of climatic change Climatic Change is a journal published by Springer.[1] Climatic Change is dedicated to the totality of the problem of climatic variability and change - its descriptions, causes, implications and interactions among these. . Starting in 2000, a tax credit of $3,000 would apply to vehicles that get double the current mileage for their class. For example a midsize car that now gets 25 miles per gallon Noun 1. miles per gallon - the distance traveled in a vehicle powered by one gallon of gasoline or diesel fuel unit, unit of measurement - any division of quantity accepted as a standard of measurement or exchange; "the dollar is the United States unit of would have to achieve 50 mpg to qualify. The credit would be expanded to $4,000 by 2004 for vehicles getting three times current models. Other key parts of the package would: Provide tax credits of $1,000 to $2,000 to homeowners and businesses that install solar rooftop panels. A 20 percent tax credit for installation of ultraefficient heating and cooling systems cooling systems for housed animals include spraying of roofs with water, evaporative pads with fans, foggers and misters; for pastured animals shelter from the sun by trees or artificial shade devices and cooling ponds are used. and water heaters. A $2,000 credit for purchasing a home that is twice as efficient as the current efficiency standards. |
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