FC Posted May 5, 2009 Report Share Posted May 5, 2009 WASHINGTON (Reuters) – President Barack Obama and Democratic lawmakers reached agreement on Tuesday on a legislative proposal designed to stimulate U.S. auto sales, which have fallen to near 30-year lows. The one-year plan crafted by members of the U.S. House of Representatives would offer vouchers worth up to $4,500 for owners to replace their less fuel efficient vehicles for models that get better gas mileage. The goal of the "cash for clunkers" legislation is to sell 1 million vehicles. "By stimulating consumer demand for new vehicles, this proposal will directly benefit domestic autoworkers and automotive manufacturers, which have arguably been hardest hit by the current economic downturn," said Rep. John Dingell, a Michigan Democrat and staunch industry ally. House Majority leader Steny Hoyer has embraced the proposal and said in an interview with Reuters in April that the measure would be acted upon quickly once proposed. Quote Link to comment Share on other sites More sharing options...
Reverend Recoil Posted May 6, 2009 Report Share Posted May 6, 2009 With that $4,500 government rebait you can buy a new car to park in front of your $4,500 government Katrina trailer. Isn't socialism swell! Ask Hugo Chavez, he'll tell you. Quote Link to comment Share on other sites More sharing options...
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