Recent Streetsblog USA posts about Cash for Clunkers

Separating Myth from Fact on “Cash for Clunkers”

By Elana Schor | Aug 3, 2009 | 3 Comments

As debate rages on in the capital over whether to keep assisting the auto industry by giving out more "cash for clunkers" rebates, two assertions are becoming commonplace: the program is helping diminish U.S. oil consumption, and the program is not paid for with new money. (Photo: AP) The first argument was reiterated on Friday […]

Bailout Recipient Citigroup Gets Contract to Run ‘Cash for Clunkers’

By Elana Schor | Aug 3, 2009 | 1 Comment

As the Senate gears up for debate this week on approving $2 billion more in "cash for clunkers" new-car rebates, Transportation Secretary Ray LaHood has vowed to work with the program’s main private contractor — Citigroup — to iron out any kinks in the system that auto dealers use to apply for taxpayer-subsidized reimbursements. Transportation […]

House Quickly Sends $2 Billion More to ‘Cash for Clunkers’

By Elana Schor | Jul 31, 2009 | 2 Comments

The "cash for clunkers" rebate program, which promises new auto buyers up to $4,500 for fuel-efficiency upgrades as small as 2 miles per gallon, is back to life after burning through $1 billion in taxpayer cash. Minutes ago, the House approved $2 billion more in auto rebates by transferring cash that was already headed for […]

‘Cash for Clunkers’ Out of Cash — But Not Quite Finished

By Elana Schor | Jul 31, 2009 | 2 Comments

The U.S. DOT may have notified car dealers last night that its watered-down "cash for clunkers" plan was already out of cash, but that doesn’t mean the rebates are on their last legs. With the White House vowing to protect the program, Congress soon could have to decide whether to keep the good times rolling […]

The Next Stimulus Plan: Kalashnikovs for Clunkers

By Matthew Roth | Jul 28, 2009 | 1 Comment

In case you don’t qualify for the federal "cash for clunkers" rebate program, Mark Muller of Max Motors in Butler, Missouri, has an offer you might want to consider: get a free AK-47 with a new truck. The dealer, whose motto is "God, Guns, Guts and American Pick-Up Trucks," one-upped himself after last year’s offer […]

From the Dept. of Mixed Messages: LaHood Touts ‘Cash for Clunkers’

By Elana Schor | Jul 27, 2009 | 1 Comment

Two weeks ago, Ray LaHood candidly addressed the need to reduce the nation’s vehicle miles traveled in order to halt the devastating effects of climate change. But the Transportation Secretary had a decidedly different message today. (Photo: NYT) "Go out and buy a car, Americans!" LaHood decreed this morning as he and lawmakers from auto-producing […]

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