Friday, June 19, 2009

Cash for clunkers program

Cash for clunkers program
The Senate passed Cash for Clunkers program today, providing consumers with cars that get less than 18 miles per gallon the ability to turn them into a $ 3,500 or $ 4,500 cash coupon. The bill was almost turned by the Republicans, but Democratic support saved the day in part due to Obama's lobbying of the program. The president still needs to sign the bill in the law.

Although many people believe that the program is designed to reduce global warming emissions through the eradication of gas guzzling cars, its true purpose is to help struggling automakers and car dealers with new car sales. A person who receives a credit as part of the program can not buy a used car with harmony. Car sales in 2009 are predicted to be almost half of what they were in 2008.

The bill was sponsored by Senator Debbie Stabenow a Michigan Democratic and one of the countries most affected by the turmoil in the auto industry. When the bill came, Stabenow said: This is a crisis for families and small businesses - for an industry that is the backbone of our economy in a generation. "

The program will be conducted by the Transport Department and this is expected to happen by August. As part of their duties, transport Department will create a public website for consumers and retailers to get more information, will certify the "cash for clunkers" program dealers and distribute coupons.

1 comment:

Ju said...

while this was suppose to be for consumers, it is not. scams abound, buyers beware. check this :

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