Oregon moves to claw back Bush's big SUV tax break

Newswire

By Lee Douglas PORTLAND, Ore., June 25 (Reuters) - In a backlash against sports utility vehicles, Oregon is seeking to pass a law that would make buyers of big SUVs pay more in local taxes if they claim them as a business expense in their federal tax returns. At stake is a federal tax loophole that lets small business owners reduce their taxable income by as much as $75,000, a limit that was recently raised from $25,000 under the tax cut legislation U.S. President George W. Bush signed ...

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