Thursday, May 14, 2009

CASH FOR CLUNKERS - BILL INTRODUCED TO HELP THE CAR INDUSTRY

'Cash-for-clunkers offered to drive new-car sales'

(The Washington Post/journalstar.com) -- The Washington Post reports that some in the United States are looking at plan in which the "German government offered drivers a few thousand dollars to scrap their old cars and buy new ones" -- a plan that lead to a 21% jump in new car sales. "Rep. Betty Sutton, D-Ohio, introduced" the bill, which proposes to have "the government buy cars and trucks that are at least eight years old and send them to the scrap heap or to be recycled for parts and materials." "Owners would receive vouchers worth $3,000 to $7,500 to buy more fuel-efficient North American vehicles or use mass transit." New cars would need to get at least 27 miles per gallon on the highway, while trucks would need to get at least 24 mpg. "The better the fuel efficiency, the bigger the payout. And the sticker price on the new car can be no more than $35,000." See more at <http://journalstar.com/articles/2009/03/23/news/business/doc49c40b5c2c0af768623074.txt>