Senate Majority Leader Chuck Schumer really expressed his desires for a Cash for Clunkers plan back in 2019. However, the recent administration by the newly-elected President Biden also aired out his desires to include such a similar plan into the Infrastructure Plan he is brewing for the country.
Cash for Clunkers promoting electric vehicles
When the Biden administration eventually reveals their plans of advancing their aspirations on reviving the Clash for Clunkers, it has been so loud that the electrical version of this program shall be promoted in order to replace or get rid of the gas guzzlers most Americans have as of today with electrical vehicles. Basically, Americans will witness a newer version of Cash for Clunker 2.0 focusing on exclusive swapping of gasoline-run engines into batteries.
During an interview with The Verge, Senator Schumer said that he is planning to emulate the Cash for Clunkers program he had called for in 2019 which shall be included in the incoming Infrastructure Bill that will be the priority of the following passage of the COVID-19 economic stimulus and relief in the American Rescue Plan for this year.
Recently, newly-elected President Biden has expressed his support for a Cash for Clunker or Schumer-like plan. It is said to be a part of the plan that Americans shall be given with deep and substantial point-of-sale discounts when trading gasoline-powered cars or diesel-powered ones for a new electric vehicle. It is not clear how much the federal government shall cover, according to The Verge, the government shall be covering more than $7,500 federal tax credit currently available for electrical vehicle buyers for qualifying electrical vehicles.
However, the electric Cash for Clunker plan reaches more than putting the American commuters on electric vehicles. Senator Schumer wants to incentivize automakers in building zero-emission vehicles across the United States. As a matter of fact, the Senator told The Verge that “the ultimate goal is to have every car manufactured in the United States to be electric by nature by the year 2030, and every car on the highway will be clean by the year 2040.” Included in this goal is to put $17 billion toward manufacturers so they can retrofit their plants for electric vehicles.
The Infrastacture Plan is so apparent in what it wants to achieve in investing to this program. Without any doubt, it is the investment of electric vehicle charging stations that is often the common theme of the 2020 campaign by the Biden admin. Senator Schumer is allocating for $45 billion toward the investment of charging stations across the country. He also added to The Verge that his plan is in accordance with THRIVE ACT (this is a bill referred to as a practicalization of the Green New Deal aimed at boosting the production of renewable energy).
Cash for Clunkers in Congress
The Cash for Clunkers plan may have faced an impossible feat in Congress during the Trump government; however, with the Democrats in control of the ball game for each of the government’s branch, the plan of including electrical vehicles in the latest program will be a reality sooner when compared to last year’s endeavors.
Even if the final Infrastracture Bill fails, the Biden administration will be expanding the electric vehicle adoption. This will reinstate and support the expansion of the electrical vehicle federal tax credits. The Biden admin is planning to convert the entire federal fleet into electric vehicles.
Need Cash for Clunkers Now?
While the Biden renewal of Cash for Clunkers is promising, it’s still in the works and probably quite a ways down the road before implementation. If you need cash NOW for your vehicle, call or visit CashforClunkers.org for a no-obligation, instant quote! We make sure that you get the best deal for your junk car and provide free towing with cash payment upon pick up! Have more questions? Our friendly representatives are happy to help you with any questions or concerns you may have. Call today!