This is really big news. The US Senate has just passed Cash for Clunkers or Cash for Guzzlers legislation and it is now headed to the President’s desk for signature. President Obama is expected to sign the legislation into law.
The bill passed the Senate on a vote of 91-5 after Senate Dems were able to [...]
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On Thursday, Cash for Clunkers legislation cleared a huge hurdle as it was attached to the back of a “must sign” Iraq and Afghanistan funding bill. While some still feel that the bill does not go far enough with requirements for higher fuel efficiency, it now appears that the bill is headed to the next [...]
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The EU has warned the US that it could be in violation of world trade rules if they do not allow Cash for Clunker trade-ins for non-US cars:
http://www.canada.com/warns+over+cash+clunker+program/1525858/story.html
The United States would violate world trade rules if proposed government payments to encourage consumers to trade in old gas-guzzling cars can be used to buy only new [...]
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http://www.detnews.com/article/20090424/POLITICS03/904240352/+Cash+for+Clunkers++deal+near
Washington — Congressional sponsors of two competing bills to offer cash vouchers to retire older vehicles and spur auto sales said Thursday they are nearing agreement on a compromise.
Rep. Steve Israel, D-N.Y., a sponsor of one of the bills, said officials were “90 percent” of the way to a compromise “Cash for Clunkers” program.
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Not much of a surprise, but Iowa Senator Tom Harkin is behind Cash for Clunkers and thinks lower income families will especially benefit from it.
http://www.radioiowa.com/gestalt/go.cfm?objectid=D398FBAE-5056-B82A-37B38D5EA31EAFFA
“Low-income Americans mostly are the ones who are driving those cars,” Harkin says. “They can’t afford to buy a new car. They can’t afford to get the credit. Even if they [...]
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It looks like things are heating up.
http://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=200904231328dowjonesdjonline000922&title=us-lawmakers-near-deal-on-program-to-lift-car-sales
WASHINGTON -(Dow Jones)- The prospects of a U.S. program to provide government-funded discounts to consumers who trade in old cars for new, more efficient models improved Thursday when a leading proponent signaled her willingness to back off on a controversial provision.
The move comes days after the European Union’s ambassador [...]
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Here is a recent article from the Christian Science Monitor about Cash for Clunkers and the environment.
http://features.csmonitor.com/environment/2009/04/17/would-cash-for-clunkers-be-good-or-bad-for-the-environment/
Boston
In the tale of Aladdin, the young hero is tempted by an enticing pitch to swap his old, but magical, lamp for a new one.
The US government may soon be offering Americans another swap they may find hard to [...]
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