Posted on 06/10/2009 2:39:21 AM PDT by Daffynition
WASHINGTON -(Dow Jones)- The U.S. House of Representatives approved legislation Tuesday aimed at stimulating auto sales by providing cash vouchers to consumers to trade in gas-guzzling cars for newer, more efficient models.
The 298-119 vote culminates months of wrangling among lawmakers over the details of a so-called "cash for clunkers" program, pushed mainly by Democrats and President Barack Obama. Most members voting "yes" were Democrats, while all but a few of the "no" votes came from Republicans.
The legislation aims to halt a steep slide in auto sales. Proponents pointed to a program in Germany credited with spurring a double-digit spike in car purchases there.
Rep. Sandy Levin, D-Mich., said the U.S. government's efforts to restructure the auto industry, which is costing tens of billions of dollars, "won't work if there isn't work on the demand side."
The legislation, which still must be passed by the Senate, faces hurdles, including questions about where to find the money for the one-year, $4 billion program. Some lawmakers have suggested the money could come from the economic- stimulus package passed earlier this year.
The House bill, authored by Rep. Betty Sutton, D-Ohio, would authorize the administration to provide cash vouchers of as much as $4,500 to consumers who trade in older vehicles and then lease or purchase a newer, more energy- efficient one. It would require the older vehicle to have a fuel economy of 18 miles per gallon or less and the newer vehicle to get at least 22 mpg. The voucher would be worth $3,500 if the newer vehicle achieved a 4 mpg increase in fuel economy. If the mileage of the new car was at least 10 mpg higher than the older vehicle, the voucher would be worth $4,500.
The older vehicles would be dismantled. [snip]
(Excerpt) Read more at money.cnn.com ...
This thing sounds A LOT like the gun take-back programs going on around the country.
Why do the vehicles need to be destroyed? What I sanity!!!
The guns that are taken back are also destroyed.
This thing sounds A LOT like the gun take-back programs going on around the country.
Why do the vehicles need to be destroyed? What insanity!!!
The guns that are taken back are also destroyed.
Yeah, but what if your old clunker gets 30mpg like my ‘95 Jetta?
If this was to happen, what you have mentioned will become all the rage.
The voucher would be worth $3,500 if the newer vehicle achieved a 4 mpg increase in fuel economy.
A 4 mpg increase in a new vehicle wont be hard to find. Thats going to be a lot of money paid out - wheres it coming from?
I’m trying to build a fast truck, I want a gas guzzler
That’s why you would want to buy a gas guzzler. Parts will be extremely cheap and easy to find.
Congress has sold its souls to the devil himself....that would be the only way to force gubmint mobiles on the people....
Im watching our local morning news.
The newsreader, with a bright chipper happy tone of voice tells us that The Government is going to give us thousands of dollars to buy a new car - then with a serious tone of voice tells us about Obamas pay as we go plan!
Good post, TurtleUp.
I ain’t buying a Government Motors car PERIOD!
So now they will have to dispose of these vehicles. Since many are made from plastics, they cannot be burned. They cannot be buried, they cannot be dumped in the ocean.
I wonder what the environmental lobby will say about this?
Just think of the rammifications.
First, imagine all the collectible cars that would normally be restored that will be destroyed. I know personally that Jeep fans are totally against this.
Second, imagine what all this scrapped material (rubber, plastic, metal) will do to scrap prices for recyclers....it will depress prices, reduce profits and drive some out of business.
Third, before these cars can be recycled, the fluids must be drained from them....who is going to do that and what will it cost? If you REALLY want to recycle them, the plastics, glass, and different alloys of metal must be segregated....who is going to do that?
Good for those who can plan ahead.
The government is just going to print the money for this, of course. Isn’t that how it’s going to pay for everything?
Park them in Detroit, like this one. The city is 100% liberal, so they won't be able to afford anything else to park for the next few centuries.
You will still see the gas guzzlers still on the road because the parts shops will become big businesses because of the parts.
Yeah, the traded-in vehicles will be disassembled (more "busy work" jobs for the UAW?) to prevent them from returning to the road somehow. As for the parts, I expect to see them loaded on freighters and sold as scrap to China.
The UAW, of course.
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