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In a statement livecast on the Internet by the White House, President Barack Obama said that neither of the restructuring plans submitted by GM and Chrysler “ goes far enough to warrant substantial new investment. ”. President Obama. President Obama. Earlier post.). The US government has no interest in running GM.
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. So is this scheme green at all?
The US is set to be the next country to introduce a car scrappage scheme, the Financial Times reports. It will form part of the Obama administration’s Climate Change Bill, of which draft legislation announced on Tuesday is an amended version to permit foreign as well as domestic vehicles into the scheme, no matter where they are built.
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