The Washington Times Online Edition
Cash for Clunkers 2: The Return of Government Motors
March 29, 2011
Link to complete article:
Ready for another cash for clunkers program? It looks like General Motors is attempting to replace it's own consumer incentives with tax payer money. The car company, bailed out of bankruptcy in 2009 by the American tax payer, appears to be turning the government into an automatic rebate provider.
Essentially, if one were to buy a $41,000 Chevy Volt, the buyer gets a $7,500 coupon, so the final price is $33,500. In the end, the auto dealer assumes the risk of the government giving them this tax credit.
It is pretty convenient that Ms. Stabenow, who represents a state where GM is headquartered is pushing a bill that is also supported by Edison Electric Institute, whose president was loaned a Chevy Volt
GM is likely the most excited about this instant credit plan. “General Motors supports the instant credit saying the bill “integrates all of the components necessary for successful acceleration of electric vehicles in the marketplace," The Detroit News reported.
Is the United States really prepared to deal with another tax payer paid for deal that will only benefit the now government owned GM?