The auto industry cannot fail, at least not in the foreseeable future. The bailout, loan, stimulus or whatever, is needed. But I believe the following should be enacted immediately to get the industry moving.

Immediately, all interest paid on loans to buy new cars should be allowed to be deducted on tax returns for 2008 and 2009. This would apply to new and leftover vehicles. A limit of a fixed amount could be set, such as $3,000 for instance. And if you bought a new car in 2008, good for you. You would also gain a deduction.

Secondly, all fees associated with buying a car should be deductible. Sales tax, registration, etc. Almost every state pays 7 percent, one way or another.

I would rather have a tax credit than a deduction. Perhaps a choice of a $1,000 credit in lieu of the deduction. But most importantly, deductions of credits should be allowed on both types of filings, i.e. itemized or standard deductions. If you can send this message to your senators or representative, it would be a great start to getting the economy rolling again.

My last idea is independent of the aforementioned tax plans. Forget $25 billion. Give them $50 billion. That would be enough to ensure the companies stay solvent while allowing them to develop the green transportation of the future. Paying it forward would reap huge results. I separate this idea because it would be a hard sell to Congress and would not be popular with many.

Ticktock, ticktock. We have little time.

Greg Reid

Massena