Auto Dealers Want Renewal Of Tax Credit Program

By Stu Johnson, Kentucky Public Radio

Car dealers across Kentucky want more help in 2011 from the Kentucky General Assembly. Lee Searcy with the Kentucky Automobile Dealers Association hopes state lawmakers will again approve a new car trade-in tax credit. Searcy says a similar tax break this year generated good results for dealers and the commonwealth.

“During the time period that there was the incentive on new car trade-in credits, the actual dollars that are collected on the sale of cars increased during that same period that we were given the credit,” he said.

Searcy says the state spent $25 million on the tax credit program. He hopes lawmakers can be convinced to pump more money into the program next year.