So umm, where exactly does this money come from? Why does our government, both sides of the aisle, keep spending OUR money recklessly and without abandon? Because YOU won’t do a fucking thing about it.
The House on Tuesday waded deeper into the rescue of the troubled auto industry when it passed a $4 billion plan to subsidize new cars sales for consumers who scrap old ones.
By a vote of 298-119, the House approved the “cash for clunkers” program.
Taken from Govtrack, H.R. 2751: Consumer Assistance to Recycle and Save Act.
Consumer Assistance to Recycle and Save Act – Establishes in the National Highway Traffic Safety Administration (NHTSA) a voluntary Consumer Assistance to Recycle and Save Program through which the Secretary of Transportation shall: (1) authorize the issuance of an electronic voucher to offset the purchase or lease price for a new fuel efficient automobile upon the surrender of an eligible trade-in vehicle to a participating dealer; (2) register dealers for Program participation; (3) make electronic payments to them for eligible transactions they accept between specified dates; and (4) establish and provide for the enforcement of measures to prevent and penalize fraud under the Program.
Prescribes requirements, including combined fuel economy, for $3,500 and $4,500 vouchers to offset the purchase or lease price for a qualifying passenger automobile or truck.
Limits the number of vouchers to one per customer, including joint registered owners of a single eligible trade-in vehicle.
Requires a dealer to certify about each eligible trade-in vehicle that the dealer: (1) will arrange for transfer to the United States of the vehicle’s title; (2) will accept possession of the vehicle on behalf of the United States; (3) has not and will not sell, lease, exchange, or otherwise dispose of the vehicle for use as an automobile anywhere in the world; and (4) will transfer, on behalf of the United States, the vehicle and its title to an entity that will ensure that the vehicle will be crushed or shredded within the Program period, and has not been, and will not be, sold, leased, exchanged, or otherwise disposed of for use as an automobile anywhere in the world.
Prescribes standards which any regulations issued by the Secretary for the Program must meet.
Makes it unlawful for any person to violate this Act or any regulations issued under it, particularly by fraud. Prescribes civil penalties for any such violation.
Directs the Secretary make Program information available on an Internet website and through other means.