Senate reaches deal on extending ‘clunkers’

[cal04]

Source: Associated Press

Lawmakers agree to vote Thursday on adding $2 billion to rebate plan

Senators have reached a deal on saving the dwindling "cash for clunkers" program, agreeing to vote Thursday on adding $2 billion to the popular rebate plan.

Senate Majority Leader Harry Reid announced the vote after lengthy negotiations between Democratic and Republican lawmakers on Wednesday. Reid has said Democrats have enough votes to pass the bill, meaning consumers could take advantage of the rebates of up to $4,500 until Labor Day.

The government says more than $775 million of the existing $1 billion fund has been spent. President Barack Obama says the program will go broke by Friday if it's not refilled by Congress.'

Read more: http://www.msnbc.msn.com/id/32296561/ns/business-autos/

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Senate reaches deal to save 'cash for clunkers'
http://news.yahoo.com/s/ap/us_cash_for_clunkers

[damntexdem]

1. The Dems have the votes. The public wants it. Why was there a need for a deal with the GOPers?

On this, as on most else, the GOP is irrelevant.

[harmonicon]

2. some Dems said they'd vote against it.

I imagine that even weak-kneed Harry has been able to get them to fall in line on this one.

[undeterred]

3. Senate reaches deal on $2B 'clunkers' refill

Source: The Associated Press

WASHINGTON — The Senate reached a deal on saving the dwindling "cash for clunkers" program late Wednesday, agreeing to vote on a plan that would add $2 billion to the popular rebate program and give car shoppers until Labor Day to trade in their gas-guzzlers for a new ride.

Following lengthy negotiations, Senate Majority Leader Harry Reid said Democrats and Republicans had agreed to vote on the plan Thursday, along with a series of potential changes to the bill, which was passed by the House last week. Reid has said Democrats have enough votes to approve the measure and reject any changes that would cause an interruption in the rebates of up to $4,500. Reid said the agreement "accomplishes what we need to accomplish."

Late Wednesday, it was not clear that any of the proposed amendments stood a chance of passing. Some of them included placing an income limit on those benefiting from the vouchers and requiring the government to sell off its stakes in General Motors Co. and Chrysler Group LLC. Any Senate changes to the bill would require another vote in the House, something that couldn't take place until the House returns in September from a monthlong recess.

The government said Wednesday that more than $775 million of the $1 billion fund had been spent, accounting for nearly 185,000 new vehicles sold. President Barack Obama has said the program would go broke by Friday if not replenished by Congress. Administration officials have estimated the additional $2 billion could fund another 500,000 vehicle sales and last into Labor Day.



Read more: http://www.google.com/hostednews/ap/article/ALeqM5i_J2CDMBIZhobnHhGIYFCzqvR52wD99T3LKG1

[Old and In the Way]

4. A valuable lesson learned with C4C.

Congress should consider a permanent incentive scaled towards higher mileage and electric vehicles that are made in the USA. Probably not the current rebate, but something still substantial.

[napi21]

7. They could easily authorize a tax deduction for the purchase

of a high mileage vehicle the same as they have tax deductions for solar home improvements etc. I vet even the Pubs would go along with that.

[high density]

16. What about about the carbon footprint of making a new vehicle?

This impact seems to be all but ignored.

[MercutioATC]

5. I don't have a problem with the program...as long as we all realize what it really is.

It's a short-term stimulus/green program that will both provide a small boost to automakers (and associated industries) and get some gas-hogs off of the road.

That's a good thing.


...and it's just a drop in the bucket when it comes to either real stimulus or real environmental policy.

[Zhade]

9. Agreed on both points. But I'm still hard up enough to need this right now. : \

NT!

[MercutioATC]

11. I didn't mean to imply it was bad. Quite the opposite, in fact.

It's a decent plan for what it is.

I'm glad that you can use it to your advantage. Being "hard up" has nothing to do with it. A guy I work with traded in an old Jeep and bought a new Sebring....and he makes about $170k/year.

[Expedite Trucker]

6. Lets hope this gets the US auto industry pumping again

[Blandocyte]

8. Good news

Been thinking about trading in my clunker.

[Duckhunter935]

10. wait 6 months

When the suger high is gone and sales slow to a crawl.

[question everything]

12. Great! A program that is stimulating the economy

fast and measurable.

[dhpgetsit]

13. I'm on the fence about it.

On the one hand it is a rare example of the "bottom up" Keynesian stimulus we need.

On the other hand it is causing the destruction of a lot of usable cars.Not everyone has the money to take advantage of the program. It would make better sense to donate the clunkers to people who are out of work and can't afford to fix their old cars, let alone buy a new one under Cash for Clunkers.

[blue_onyx]

14. Donating the vehicles

would completely defeat the environmental purpose of the program. The goal is to get gas guzzlers off the road.

[dhpgetsit]

15. Yes it would. I'm just saying there is a down side to it.

And there is an environmental cost of junking a working vehicle and producing a new one to replace it.

[AndyTiedye]

17. These Vehicles are Gross Polluters

Most are old enough to be exempt from emissions testing, or subject to very lax standards if they are tested at all. Many burn lots of oil.
Get them off the road.

[question everything]

18. Look at it this way: the program will lost only few more weeks

after that, these clunkers can, again, be repaired and used by low income people.

[tailspin17]

19. FYI...This is BS...

Coburn introduced an amendment that would give the used cars to charities, needy, or poverty stricken families....

It was voted down by all but 3 Democrats....

These cars are going to peter out at some point anyway, but putting the environment in front of needy people is ridiculous, especially in this economy...

http://senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00266

[SpartanDem]

23. Every amendment was voted down

the House is already recessed unless you rather kill the program until they come back in Sept and the passed the amended bill?

[tailspin17]

20. Actually discourages me from buying a car now.....

I've been driving a Corolla for 10 years, responsible mileage-wise and economically....

...now I want a new car, but this program essentially calls responsible people suckers for losing out on $4,500, all for trying to be responsible....

For all the cars sold in this program, I'm sure there is an equilibrium between the people actually buying cars and the people who planned on buying cars (who didn't own a clunker), only to see their neighbor get the car for $4,500 less...

[skipos]

21. Yeah! And I'm pissed off about homeless people getting free soup! What do I get?

And Victoria's Secret gives free panties to women but nothing to me! Bullshit! If I don't get something, then it is UNFAIR!

[tailspin17]

22. Eh...

...forget it....

went right over your head.....