The AIADA newsletter reported that according to Automotive News, a bill to offer cash vouchers of up to $4,500 to people who swap cars and trucks for new, more fuel-efficient vehicles may be considered on the House floor as early as mid-June.
Where will this money come from? Your guess is as good as mine. I haven't seen anything that takes that into account, although I haven't read the latest "climate-change bill" either.
The measure passed the House Energy and Commerce Committee Thursday as part of a climate-change bill that also provides for the development of plug-in electric drive vehicles, but Sutton also broke out the cash-for-guzzlers provision and introduced it as a stand-alone bill Thursday in the hope of getting it passed more quickly by Congress.
The legislation would offer customers $3,500 vouchers if they trade in cars that get less than 18 mpg for new vehicles that get at least 22 mpg. Vouchers of $4,500 would be awarded if the new cars get at least 10 mpg more than the old.
The most disturbing thing about it though is that they are saying that the autos can be purchased from anywhere. Meaning that foreign cars are fair game. Of course this is something that is a good debate in my opinion. Does this force American auto makers to work even harder to catch up, or is this just going to push them further down the hole? Law makers may want to latch onto some term life insurance online if they do't at least try to help them compete for these dollars.
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