The House Ways and Means Committee opens hearings on gradual elimination of the automotive "luxury tax" by the year 2000. The Association of International Automakers (AIAM) says the tax, 10% of the sticker for vehicles costing $32,000 and up, originally targeted wealthy car buyers but has hit regular folks the hardest: Middle class employees in luxury-car dealerships, who've lost jobs because of slumping
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The House Ways and Means Committee opens hearings on gradual elimination of the automotive "luxury tax" by the year 2000. The Association of International Automakers (AIAM) says the tax, 10% of the sticker for vehicles costing $32,000 and up, originally targeted wealthy car buyers but has hit regular folks the hardest: Middle class employees in luxury-car dealerships, who've lost jobs because of slumping sales.
