From the Strib: House OKs ‘cash for clunkers’ plan to boost auto sales
By KEN THOMAS , Associated Press
Last update: June 9, 2009 – 8:05 PM
WASHINGTON – The House on Tuesday approved a “cash for clunkers” bill that aims to boost new auto sales by allowing consumers to turn in their gas-guzzling cars and trucks for vouchers worth up to $4,500 toward more fuel-efficient vehicles.
The problems with this bill are obvious (it rewards past bad behavior (poor fuel economy)) and has ridiculous cut off points (car got 18 MPG or less, $3500; car got 19 MPG, $0), rewards vehicle ownership, etc.
It is still probably better than bailing out the industry though.