Obama signs Cash for Clunkers bill

Program set to start next month

After months of debate and several revisions by the US House and Senate, President Obama has signed the "cash for clunkers" bill into law.

The finalized program provides $1 billion dollars of government funding for consumers to scrap gas guzzlers, which get 18 mpg or less, in return for a $3,500 to $4,500 credit to purchase a new vehicle. Thanks to the government's red tape, the program is now restricted to vehicles that have been insured for the previous 12 months and are 25 years old or less.

Despite becoming law, several details still need to be worked out. The US Department of Transportation has 30 days to figure out how to run the program and prevent trade-in vehicles from being resold. According to the National Highway Traffic Safety Administration's spokesman, Rae Tyson, "We're going to require some foolproof means of proving that the (trade-in) vehicle will never be on the road again."

More information can be found at the government's new website, CARS.gov.

 

Source: AutoNews.com (sub req) and freep.com

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 Prince_Ash Prince_Ash
i think this is a good move on the american automotive part. it would help alot of ppl to afford to get a better for the environment car. glad to see obama at work.
June 26, 2009 11:14 am
 groove22 groove22
The hidden truth is you need to turn around and buy a eco-friendly car, ie Prius or Insight type vehicle to receive the money. The cash does not go into you pocket at all. Big brother trying to tell us what we want and need.
June 26, 2009 5:15 pm
 mnovakowski mnovakowski
The vehicle he is shown riding in is his view of the future of transportation. In all seriousness I still see no reason why I am being forced to buy my neighbor a new car. This bill is total BS like all the other socialist junk he is jamming down our throats.
June 26, 2009 11:47 am
 ShinyG ShinyG
So I guess you are against insurances also? Why should you pay for your neighbor's health!? Calling socialism "junk" is just ignorant, you have no idea what that is if you lived your whole life in the US. Maybe it's not that bad if you just give it a try, especially since your "capitalism" almost f***ed up the world economy...
June 26, 2009 12:14 pm
 benz_man benz_man
LOL
June 26, 2009 1:52 pm
 joshg_5 joshg_5
Long live capitalism!
June 26, 2009 2:28 pm
 Renegade Renegade
Socialsism = junk, crap, big pile of monkey pooo and all commies should be eliminated. Happy now ShinyG? Oh, and wise guy, most people can't live without a good health, but they can live without a new car. I pity the fools that want to look smart when they aren't.
June 26, 2009 6:42 pm
 Renegade Renegade
If they wanted this bill/law to be efficient they needed to concentrate on how to sell american cars(jobs in the U.S. and profit for the big 3), not how to sell low mpg cars, witch many of them are imports, but since the guys in the WH, don't give a damn about this things, I will stop here, let's talk more about cars and less about politics here, oh and let's not forget that, In socialist America your clunker cashes you.
June 26, 2009 12:04 pm
 Capitalist1979 Capitalist1979
To ShinyG First socialism is "junk". I know what I am talking about I living in Sweden.Pay 30% tax for other education(40 kids for one teacher), healthcare( you have to wait 1 hour in an emergency room), Pension ( this country is getting so old, the gouvernment need to privatise because is getting very expensive) etc,. Well if you want that come and live here for a while and then you can critise. And Second the US"capitalism" didn't almost f***ed up the world economy, what fucked the whole ecnomy are whole those cheap loans all around the globe, that has been made by some bankers, and now the socialism is kicking in and we have to pay for those ***holes. Real capitalism should have let bank, car company,etc to failed and not saved them. That's real capitalism is whole about... When third the US need big SUV because of the weather, the size of the country, etc. the US should spend this 1 billion$ in hydrogen research and secure the energy independence. And mnavakowski I feel sorry for you, paying tax money to save your auto industry and now a new car to your neighbor. Yes, your right socialism is "junk"
June 26, 2009 2:21 pm
 joshg_5 joshg_5
That's true, they've gotta figure out how to make it so as consumers are enticed to buy cars produced IN America (be it a Japanese, German or American manufacturer). It's a great way to stimulate the economy, I just hope everyone doesn't buy Prius's...
June 26, 2009 2:39 pm
 Dolomight 74-86 Dolomight 74-86
I wonder if his baller cadillac limo is covered under his new bill? Maybe HE should get a prius.
June 27, 2009 3:10 am
 dougpassat dougpassat
The Messiah Obama is so full of ish, phoney green push when the real push is for complete control of every aspect of our lives. We need to be punished for being weak and not standing up to our dictators who are "voted in". When the choice is between republocrats there is no choice.
June 28, 2009 6:09 pm