President Obama signs cash for clunkers' legislation
Washington -- Legislation to boost the auto industry and improve the environment by subsidizing sales of fuel-efficient vehicles was signed into law Wednesday by President Barack Obama.
The "cash for clunkers" measure authored by Copley Township Democratic Rep. Betty Sutton was part of a broader funding package that Congress approved last week. Sutton said the program would "improve our environment and help shore up the jobs of millions of Americans who depend upon our auto and related industries for their livelihood."
The "Car Allowance Rebate System" administered by the National Highway Traffic Safety Administration would issue credits of $3,500 or $4,500 to buyers of fuel-efficient cars who turn in older, gas-guzzling vehicles to be scrapped.
President Obama signs cash for clunkers' legislation
Washington -- Legislation to boost the auto industry and improve the environment by subsidizing sales of fuel-efficient vehicles was signed into law Wednesday by President Barack Obama.
The "cash for clunkers" measure authored by Copley Township Democratic Rep. Betty Sutton was part of a broader funding package that Congress approved last week. Sutton said the program would "improve our environment and help shore up the jobs of millions of Americans who depend upon our auto and related industries for their livelihood."
The "Car Allowance Rebate System" administered by the National Highway Traffic Safety Administration would issue credits of $3,500 or $4,500 to buyers of fuel-efficient cars who turn in older, gas-guzzling vehicles to be scrapped.
Source: The Plain Dealer (Cleveland)
Please feel free to visit the following sites for more information in regards to the Cash for Clunkers bill:
http://www.prestonauto.com/cash-for-clunkers.htm
www.cashforclunkerspittsburgh.com
www.cash4clunkersoh.com/youngstown/
www.cash4clunkersoh.com/warren/
Cash for clunkers will hurt car donations to charities because the amount of the voucher is so much greater than the tax deduction. The solution to boost car sales would have beis to just go back to allowing people to take the blue book value of their car as the tax deduction for donating it. Most donated cars are recycled. Those that aren't have to pass inspection before they are sold or given to the public. The result is less polluting vehicles on the road.
ReplyDeleteKaren Campese, CEO
Cars4Charities
http://www.cars4charities.org