The North Dakota Legislature, led by Rep. Lisa Wolf (D-Minot) wants to lend a helping hand to Detroit automakers by creating their own miniature stimulus. Wolf sponsored a bill, which quickly gained bipartisan support, that would eliminate the motor vehicle sales, excise and use taxes on new cars made by the Big Three.
The tax breaks have been billed as an “emergency measure.” They would not extend to foreign competitors and would apply only to vehicles purchased before June 30, 2010.
While the tax breaks would certainly offer car buyers a discount on new cars, North Dakota dealerships that sell non-American brands could be hurt. But we’re guessing if you live in North Dakota and you’re buying a foreign-brand car, no taxes won’t sway your purchase.
No word yet on if the bill will pass or if Republican Gov. John Hoeven will sign it, but North Dakota is planning a whole slew of tax breaks.
That’s right: While many states face unprecedented budget crises, North Dakota is deciding how to spend a $1.2 billion budget surplus.