July 24, 2009
Editor’s note: Government classifies new cars with unacceptable gas mileage as “clunkers” and will throw your tax money around to get them off the road.
Americans will get a new incentive to trade-in their gas-guzzling cars today when a government rebate program that offers cash vouchers to people who trade in their cars for new fuel-efficient vehicles officially starts.
The Car Allowance Rebate System, informally called “Cash for Clunkers,” was passed by Congress in June to help jump-start struggling auto sales and to improve the environment.
But some critics say the program may be economically and even environmentally counter-productive.
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