Big Tax Loophole

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Billionaire Elon Musk’s Tesla Motors new Model X electric SUV may cost more than $100,000, but some buyers can expect a $25,000 federal tax deduction, the Los Angeles Times reports. Critics say it is an unfair advantage for the wealthy who primarily buy the cars because they would also receive a $2,500 state rebate for buying a battery-electric vehicle and a $7,500 federal tax credit.

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