'Cash for Clunkers' becomes law

[Saturn team]

On June 25, President Obama signed into law a bill nicknamed “Cash for Clunkers,” aka the “Car Allowance Rebate System.” The program gives vehicle owners a rebate of $3,500 to $4,500 for purchasing a new, more fuel-efficient vehicle with the trade-in of a less fuel-efficient vehicle. The National Highway Traffic Safety Administration will write rules for the law in the next 30 days, so your Saturn retailer will likely have more information in mid-July.

For more information, see the NHTSA CARS site.

[GTOken]

This law is total BS and can be lumped in with all the bailouts (including GM especially) and any other form of welfare or entitlements. I cannot take advantage of this (nor would I) just like I cannot take advantage of the huge amounts of welfare money given to first time home buyers. I hope I get a thank you card someday from the government and everyone else bending me over.

[William Biddlecombe]

This would be good, except at the last minute they allowed the imports to be included. So now besides supplementing the import plants in the US with tax breaks (in many cases tax free) we are now supplementing the purchase of foreign cars directly. Congradulations Obama for kicking us in the ass while we are down.

[dic]

This is a wonderful new use for my tax dollars. And again I get it in the shorts. My '98 SL gets too good of gas mileage and will never qualify as a clunker under Government rules. Good choices once again punished by big brother and the nanny state.
I also own a truck. I can trade that thing in for $4500 on almost any car or light truck.Of course then how will I haul my lumber and drywall home?