Government's Cash for Clunkers site
The government has a site for the Car Allowance Rebate System, better known as Cash for Clunkers.
It certainly doesn't have all the details just yet, and, in fact, the president hasn't signed the legislation into law.
But transportation officials answer some frequent questions on the site and say they are scrambling to sign up dealers willing to participate.
The program - worth $3,500 or $4,500 depending on what type of vehicle you own and what you buy - applies to sales of new fuel-efficient cars starting in July.
Comments
Cash for Clunkers has a negative consequence. It will harm donations of cars to charity because the voucher is much greater than the tax deduction for donating a car. Congress could have stimulated car sales by just returning to allowing car donors to claim the book value as their tax deduction. Since most donated cars are recycled, there would be an environmental benefit as well.
Posted by: karen campese | June 26, 2009 11:21 AM