On its surface, it sounds like a wonderful environmental benefit: A program providing thousands of dollars to drivers who scrap their gas guzzlers in favor of more fuel-efficient models. Yet critics on and off Capitol Hill say the so-called “cash-for-clunkers” initiative has morphed into a billion-dollar industry handout, allowing More…
House Democrats have just reached a compromise on a cash-for-clunkers bill that would provide financial incentives for people to trade in their old gas-guzzlers for more fuel efficient vehicles.
From the Energy and Commerce Committee’s press release:
Under the agreement, consumers may trade in their old, gas-guzzling vehicles
President Obama is pushing a compromise cash-for-clunkers program that will bridge the gap between two competing bills and provide a sliding incentives scale, whereby drivers will receive a cash voucher for trading in their old cars for more fuel-efficient ones — the greater the increase in efficiency, the More…
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