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In 2009, the Obama administration launched the Car Allowance Rebate System, a program that was intended to not only stimulate spending, but also to improve energy efficiency and safety by encouraging people to upgrade to new cars. The data included more than 320,000 real vehicle transactions completed under Cash for Clunkers.
On Friday, President Obama signed into law H.R. 3435 , which provides $2 billion FY 2009 emergency supplemental appropriations for the Consumer Assistance to Recycle and Save Program (Cash-for-Clunkers, C4C).
Dingell, Congresswoman Betty Sutton, Congressman Jay Inslee, and Congressman Bart Stupak reached an agreement on a “Cash for Clunkers” scrappage program. House Speaker Nancy Pelosi called the scheme a “common-sense proposal” and said she would work with the House, the Obama Administration and the Senate to pass the legislation.
The Car Allowance Rebate System (CARS for short, or ‘cash for clunkers’ as it is more commonly known) was the US’s answer to the scrappage schemes in Germany and the UK which appeared to have revitalised their respective automotive sectors. When the cash for clunkers scheme was introduced, we at TheGreenCarWebsite.co.uk
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