Tuesday, March 24, 2009
CARS Act...Cash For Clunkers!
I was considering a post on the outlook for new fuel efficient auto's and new business' that are interested in making them here in Michigan. But rather than running through some hopefuls that may or may not designate this state for their American home I thought we could put that off until another day. Instead let's take a look at
Rep. Betty Sutton's (OH) Consumer Assistance to Recycle and Save (CARS) Act
While I am sure everyone knows what I am talking about when I mention the CARS Act, please give me a moment in case you have been out of town for awhile.
The CARS act proposes to give consumers up to $5,000 for an old clunker trade in on an auto that is built in the United States that gets at least 27 mpg.
This proposal has many advantages to people living in the state of Michigan.
First and foremost it would help the economy as people who take advantage of the measure buy new cars. A similar measure in Germany caused a new car sales surge of 21 percent.
Secondly it helps the environment when people buy autos with more efficient motors. I still see some eighties land yachts floating around our highways, and this may be enough money to benefit those that otherwise cannot afford more practical means of getting to, and from work.
Third it makes us more independent from foreign sources of oil. Something that all sides of the political spectrum can agree is in our best interest.