Cash for Guzzlers
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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According to an article in the Detroit News, the two competing Cash for Clunkers bills currently in Congress are close to reaching a compromise. One bill, sponsored by Rep. Betty Sutton, D-Ohio, gives larger vouchers toward new American-made cars and trucks, less for vehicles produced in North America and nothing at all for new vehicles [...]
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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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If you want to follow the details of the Cash for Clunkers legislation, you can do it on the web at:
http://www.thomas.gov/bss/111search.html
When you get to the site you can search for the following House and Senate bills and monitor their progress. There is one Cash for Clunkers Senate bill and 2 House bills right now:
Senate: S. [...]
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Looks like compromises are being made and Cash for Clunkers could get picked up in Congress next week.
http://www.bloomberg.com/apps/news?pid=20601085&sid=arRGEXPmOojA&refer=europe
April 17 (Bloomberg) — U.S. lawmakers may let cars made overseas qualify for a proposed “cash-for-clunkers” program in a bid to secure passage of the measure, designed to help revive domestic auto sales at a 27-year low.
An option [...]
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There is a lot of news about Cash for Clunkers today.
First from the Wall Street Journal:
http://online.wsj.com/article/SB123984336433423387.html
Joseph B. White’s “Eyes on the Road” analysis of one of the “cash for clunkers” programs being proposed to spur trading in older, less fuel-efficient vehicles (”How Much Is Your Guzzler Really Worth?,” Personal Journal, April 7) concludes that the [...]
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http://phx.corporate-ir.net/phoenix.zhtml?c=125417&p=irol-newsArticle&ID=1276678&highlight=%22,,0,0,,,,
Nation’s Largest Used Car Retailer Says More Americans Will Benefit
RICHMOND, Va.–(BUSINESS WIRE)–Apr. 15, 2009– CarMax, Inc. (NYSE: KMX), the nation’s largest retailer of used cars, is urging Congress to include used vehicles in the “Cash for Clunkers” [...]
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I found this interesting one-page summary of how a bill becomes a law in the US. It’s pretty straightforward but I imagine there are a lot of things that factor into the process that is not covered on this page:
http://www.votesmart.org/resource_govt101_02.php
Of course, those of you who are old enough to remember this one, already know how [...]
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