The government seems to be working on a cunning plan to bring GM back to profitability.
This ought to do it.
With auto sales in the doldrums, the House was considering a plan Tuesday to provide vouchers of up to $4,500 for consumers who turn in their gas-guzzling cars and trucks for more fuel-efficient vehicles.
The House proposal, set for a floor vote Tuesday, was aimed at stimulating car sales during a bleak period for the auto industry and increasing the nation’s fleet of cars that get more miles to the gallon…
Separately, House and Senate appropriators were discussing providing $1 billion to a supplemental war funding bill for the “cash for clunkers” program, which aims to generate about 1 million new auto sales. Since the yearlong vehicle program is expected to cost $4 billion, lawmakers would attempt to find the additional money later this year.
Under the House bill, car owners could get a voucher worth $3,500 if they traded in a vehicle getting 18 miles per gallon or less for one getting at least 22 miles per gallon. The value of the voucher would grow to $4,500 if the mileage of the new car is 10 mpg higher than the old vehicle. The miles per gallon figures are listed on the window sticker.
So, now we’ve got a car company, and next we’ll be buying cars for our neighbors.