Despite opposition, President Obama signed a highly opposed bill. With the Cash for Clunkers bill, Americans can trade in their fuel consuming vehicles; in turn, Americans will receive credits equal to $3,500 or more towards the purchase of a new, more environmental-friendly vehicle. The Cash for Clunkers bill, specifically known as the Car Allowance Rebate System (CARS, endured much criticism; environmentalists, for example, claim that fuel economy benefits are limited. Cash For Cars Sydney
Immediately pointing the finger, environmentalists noted that the infamous new Hummer 3 is one of the qualifying vehicles in the Cash for Clunkers bill. In addition, auto industry supporters claim that the one billion dollars set aside for this project will not be nearly enough to establish significant car sales. They claim that the small amount would only allow 250,000 consumers to participate. Originally, the Cash for Clunkers bill projected an estimate of 4 billion dollars to ensure success. Most taxpayers are reluctant to continue helping the automotive industry though, as 60 billion dollars have been allocated for that purpose.
Despite all the opposition, the bill has been signed, and we should search for the benefits of the program. There truly are advantages of the Cash for Clunkers bill. On a positive note, Americans are very familiar with car sells and numbers. After all, what else have we seen leave Washington that’s going to stimulate the economy? The bailout money spent may indeed stimulate our economy in time, but we, as Americans, cannot necessarily track those changes. A similar program was utilized in Europe, and its success was prominent. The Cash for Clunkers bill can and will stimulate vehicle purchases, and that’s something that we can evaluate statistically and identify with.