Where the US stands in pushing “Cash for Clunkers”- Four bills in Congress; Details Needed
(Source: Tree Hugger)
There are currently four bills in Congress focused on stimulating car sales by allowing people to trade an old car for a new one. There’s been lots of buzz, but not so many details. That’s starting to change as people such as Rep. Betty Sutton goes on the offensive for her own proposal .
There are currently four different proposals in Congress to stimulate stimulate car sales by way of incentives from the government to buy older, less fuel-efficient vehicles. Three are from the House of Representatives and one from the Senate . Already the topic has lit up the blogosphere with buzz about the opportunity for people to get $3,000.00 to $5,000.00 for exchanging that junker for a shiny, new automobile.Rep. Betty Sutton was on CNBC’s Squawk on the Street today talking about her version of the bill. With an official title of “To accelerate motor fuel savings nationwide and provide incentives to registered owners of high polluting automobiles to replace such automobiles with new fuel efficient and less polluting automobiles or public transportation” it’s easy to see why few details are in the media as of yet. The bill’s short title as introduced is Consumer Assistance to Recycle and Save Act of 2009. Anchors Mark Haines and Erin Burnett posted questions about how the proposal may work.
Leader in the Pack
Rep. Sutton’s Consumer Assistance to Recycle and Save (CARS) Act would give consumers incentives of $3,000 to $5,000 for turning in vehicles that are 8 years or older to buy more fuel-efficient vehicles or to obtain a transit voucher. She says that support is growing every day. The bill has gathered 21 co-sponsors so far, up from 19 a couple of weeks ago. The bill is still working out the metric of how cars would need to be traded in and what fuel efficiency would need to be for the new car. Sen. Dianne Feinstein has a similar proposal (with a short title of Accelerated Retirement of Inefficient Vehicles Act of 2009) that would mandate that the new car be 25% aboveCAFE standards . There has not been anything mentioned about how many cars one person or family can switch for the credit. Also, some states already have incentives for buying cleaner cars, so will individuals be able to get both state and federal credits? If so, in places like Texas , a person could get a combined total of as much as $8,500.00 for a new car.
Click here to read the entire article. Here is the CNBC video of the Cash for Clunkers featuring industry experts Dave McCurdy, Alliance of Automobile Manufacturers and John Wolkonowicz, IHS Global Insight.
Note: Below is a list of articles published on TransportGooru, offering insight into state of various “Cash for Clunkers” style programs implemented (or currently being debated) across the globe (Germany, UK, etc,).
Consumer Assistance to Recycle and Save (CARS) Act revives “Cash for Clunkers” scrapping plan in U.S
Germany plans to extend Abwrackprämie aka “Environmental Bonus”
The bickering starts over the implementation of the Cash for Clunkers legislation
Obama Favors “Cash for Clunkers”
Britain mulls implementation of “Cash for Clunkers” scheme to boost ailing auto sales
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