Posted on 12/16/2008 7:29:20 AM PST by newgeezer
DES MOINES, Iowa -- Sen. Tom Harkin is proposing new legislation that he said would increase the demand for American cars.
Along with Sen. Dick Durbin, of Illinois, Harkin introduced a bill earlier this week that in turn would take older, less-fuel-efficient cars off the road, while also giving buyers a big bonus.
The Sell Fuel Efficient Cars Act would provide a rebate of $10,000 to buyers who trade in a car more than 10 years old for a new American car.
Officials said the reason for the act is to help create demand for American cars and preserve jobs in the weak economy.
The rebate would be limited to families with an adjusted gross income below $40,000 a year or individuals making less than $25,000.
To get the rebate, you would be required to turn in a car more than 10 years old that is still drivable.
The rebate would only apply to purchases of fuel-efficient GM, Ford or Chrysler vehicles that are assembled in the United States. The car would have to have an average fuel economy of 25 miles per gallon.
Officials said close to 15 percent of automobiles that are manufactured by the Big Three automakers would qualify for the rebate.
There would be a one-car limit per family or individual and the program would end in 2009.
[The source article includes a video news clip.]
How about the poor schmuck(ette) driving a '95 Tercel, Metro or Civic? Good luck finding a domestic new car rated 5 MPG higher than that.
And, where is the wisdom in encouraging a family making < $40K/year to take on thousands of dollars in car debt? Typical government "help."
i see the price of cars going up at least 10K in the near future...
More government.
Swell...
Oh great, more welfare for those that don’t pay any taxes to begin with.
Ahhhh, artificial demand. Is there anything more American than government incentives for an undesirable product?
All ‘foreign’ car makers in the USA would file suit immediately and stop this illegal subsidy. Bankruptcy is the only option. Next problem.
I see an increase in the number of new “fuel-efficient GM, Ford or Chrysler vehicles that are assembled in the United States with an average fuel economy of 25 miles per gallon” available on Craigslist for 8K under MSRP.
Jaw-dropping idiocy.........
If I was one of the other American carmakers I’d sue for unfair business practices or something. This is just plain unfair and if not, it should be illegal.
Hey I gotta better Idea...
Lets let all the Hollywood Libs like Oprah and Barbara etc, buy us all fuel efficient cars... They don’t need all them billions they got.
Will illegal aliens qualify?
The used car market is a good place to be these days.
So, I go out and buy a junker for $400, trade it in on a new car, get $10k back? Sounds good to me.........
“The Sell Fuel Efficient Cars Act would provide a rebate of $10,000 to buyers who trade in a car more than 10 years old for a new American car.”
Does this mean an American car built in Tennessee with all American labor & parts but with a Japanese name badge? Or the “American” car assembled in Mexico with parts from all over?
To clarify, this is from the press release:
Like all Gov’t programs you only have to ask where the original 10,000 comes from.
I think the value of a 1972 Maverick just spiked by $10,000!
Why only Chrysler, Ford and GM products? There are many fine automobiles built in the United States by non-union labor such as Nissan, Mercedes, Toyota, etc. Oh, that’s right, it’s about the UNIONS, not the manufacturers.
Senators Tom Harkin and Dick Durbin are two of the stupidest, far-left shills in a chamber known for both.
Can’t see this one passing, but maybe they are after the sympathy, we love you, we care, good intentions, it is all in the feelings, from the IOA crowd.
Silly boy, no. They will qualify for a FREE car.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.