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.]
if they want to create a demand for PRIVATE PASSENGER VEHICLES,
END THESE ABSURD MASS TRANSIT SCAM PROGRAMS.
governemnt logic is an oxymoron.
Harkin may cause me to reconsider---
You, sir, are obviously one of those greedy, evil, conservative rich b*st*rds! /sarc
That "Ol' Populist" Dungheap Harkin would be only too happy to set you straight by saying you're oppressing people who are entitled to new cars.
Thank you, sir, but I do not buy new cars. I want to become rich.
The inmates truly are running the asylum.
The Founding Fathers and their generations are amazed we haven’t marched on DC and thrown these bums into the Potomac yet.
Be the first on your block to own the new base-model Aveo from Chevrolet! Only $25,500.
I've bought them in the past for pretty cheap money for (unsanctioned) demolition derbies. There's nothing quite like getting half-buzzed with a half dozen friends and smashing the hell out of cars and letting the cops watch, knowing they can't do anything but laugh.
See ... that lady was right ... now that Obama’s elected, the government will pay for gas.
I'm sure his point was, those $400 cars will quickly cost at least $5400 when this government "solution" is in place.
I remember Delta and a bunch of others airlines went bankrupt and they seem to be about 95% full whenever I fly. Total bs argument promoted by the UAW and its poitical whores.
I fully agree, and that was my first thought when I started to read this dreck.
“To get the rebate, you would be required to turn in a car more than 10 years old that is still drivable.”
If its still driveable, doesn’t it go right out on the lot and eventually on the road again...doesn’t make sense if this is supposedly getting older cars off the road.
Look for alot more ‘tinkering’ after the bailout.
“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. “
Well as long as Infiniti has plants in the US, I am all for it.
/sarcasm
Every beater just became a $10,000 car! Idiots! This is nothing but a $10,000 vote buying giveaway.
They will never get my 73 El Camino, 84 Buick Riviera convertible, 95 Caprice cop car, 96 Impala SS or seven more that are 10 years or older. I will hide them in the woods if they come after them!
Why is the government trying to encourage low-income people to buy new cars? Our AGI is well over that threshold and one of our primary vehicles is over 10 years old. Even with a $10K “rebate” I’m still not interested in buying a brand new “qualifying” vehicle. I would have absolutely less than no interest if our AGI met the criteria- it seems foolish to me.
No kidding. One needs only to look at what has happened to the price of tuition over the last 30-40 years to figure out that subsidies increase the price of whatever is subsidized. And if you aren't one of those receiving the subsidy, you are well and truly f'd.
Oh, besides the issue of where is the money going to come from? $10K x 10 million cars (over, let's say, a 3 year period) equates to $100 billion. It is far cheaper to simply give the companies $40 billion and bribe the union leaders with another $1 billion to sell out their retirees - then, at least, there will be money to retool and a permanent solution to our lack of price competitiveness.
Not so if you own a late-model car getting over 25 mpg - this move would devalue your car by $10,000...
It’s official, the government will now buy the cars nobody wants.
The first model will be called the American Zil.
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