Posted on 01/15/2009 5:32:50 AM PST by Red Badger
A measure introduced by US Senators Dianne Feinstein (D-CA), Susan Collins (R-ME), and Charles Schumer (D-NY) would establish a national voucher program to encourage drivers to trade in older, less fuel efficient cars, trucks or SUVs for a more fuel-efficient vehicles or to use mass transit. Companion legislation was also introduced in the House by Representatives Steve Israel (D-NY), Jay Inslee (D-WA), Barbara Lee (D-CA), and Dennis Moore (D-KS).
The Accelerated Retirement of Inefficient Vehicles Retirement Act of 2009 (ARIVA)—also called the “Cash for Clunkers” program—would reimburse drivers with a credit of up to $4,500 for scrapping vehicles with a when-new fuel economy rating of less than 18 mpg US as reported by the original manufacturer for purposes of CAFE compliance. (CAFE compliance figures are lower than the adjusted EPA fuel economy ratings for consumers.)
Eligible drivers would receive a reimbursement voucher for the purchase of a new or used vehicle with a fuel economy rating that exceeds the CAFE target for that class of vehicle by at least 25%. The bill also requires that the voucher be used towards the purchase of a vehicle that has an MSRP of less than $45,000, is model year 2004 or later, and meets or exceeds federal emissions standards. Drivers who apply for the program must ensure that their vehicles are in driveable condition and are currently registered in the US.
Vouchers could also be redeemed for transit fares for participating local public transportation agencies. The program would operate for four years, from 2000-2012, and is expected to encourage the early retirement of up to one million vehicles per year. [SNIP] See linked article for price chart
In each subsequent year (2010, 2011, and 2012), the model years would be advanced by one year. Vouchers would be eligible for redemption for up to two years after the date of issuance, and no individual would be eligible to obtain more than one voucher in any three-year period. Dealers, dismantlers and scrap recycling facilities would also be eligible for a payment of $50 per vehicle, or an alternative amount to be specified by the Department of Energy.
Last Congress, we successfully enacted legislation...to improve the fuel efficiency of America’s fleet of new cars, trucks and SUVs by at least 10 miles per gallon over 10 years. But we face real challenges with trying to encourage drivers to trade in their older, less fuel efficient vehicles—particularly in this tough economic climate. This bill will help address that problem...If enacted, this bill would be an important part of helping getting America’s struggling automobile industry back on its feet—and help consumers who are concerned about covering the cost of buying a more fuel efficient vehicle. —Senator Feinstein
If implemented,the program would, as estimated by the American Council for an Energy-Efficient Economy (ACEEE):
*
Save between 40,000 to 80,000 barrels per day of motor fuel by the end of the fourth year, (based on an estimated 500,000 to 1,000,000 vouchers issued per year). *
Reduce greenhouse gas emissions between 6.6 million metric tons to 7.6 million metric tons, or the equivalent of removing 1.1 million to 2.2 million vehicles from the road in one year, (based on an estimated 500,000 to 1,000,000 vouchers issued per year). *
Reduce NOx by 3,043 short tons (2,761 metric tons) by 2013, (based on an estimated 500,000 to 1,000,000 vouchers issued per year).
While participation in the voluntary program is hard to gauge, ACEEE said, its preliminary estimates are that 575,000 vehicles would be retired annually, and that fuel savings would reach 46,000 barrels per day by 2013.
Resources
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ACEEE white paper on accelerated vehicle retirement
I am trying to figure out how, in this economy, we are going to reasonably pay for this program. More deficit spending for a program that does not need to be implemented at this time. It looks like congress is going to push liberal experiments with funny money (deficit spending) to try to “improve” our lives.
I don’t know if it was Rush or Glenn Beck yesterday but they calculated that it would take 34 years to pay off the difference in price between a Prius and another car in the savings of gas cost. That didn’t include service and repairs.
This will be followed by a Bail Out program for the deadbeats who can’t make the payments on the $55,000 cars they “bought”...
Welfare for Government owned automakers.
The car is a dream to drive, and the Sinators are going to have to deal with my attitude: FMCDH!
This one’s on such sorry shape, it would cost more than $5,000 to bring it ‘up to code’, so to speak. Probably a lot more than that. I doubt I put more than 3,000 miles a year on it.
The numbers are not favorable.
The new nominee for Secretary of the Treasury evidently thinks so. He not only didn't pay his income tax on his IMF salary, but also did a lot of other skirting or passing the line on some of his other income tax calculations.
Not only that, he was double dipping: the IMF reimbursed him for the income tax he was supposed to pay, but didn't.
Ergo, income tax is only for the little people.
Can you imagine the effect that giving this nominee a pass on some egregious ignoring the law is going to have on us little people?
Remember the old saying, Vox populi, vox dei.
The voice of the little people is the voice of God.
But not as long as the Democrats count the votes, and the Republicans let them get away with it.
Hi, Stuart Smalley, the peeps cherce after infinite recounts and vote hanky panky.
Are we limited by how many cars we can buy in this scrap for crap errr crap for scrap bill ?
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