A New Rebate Debate
August 3, 2009
Earlier this year, it was announced that the U.S. Federal Government would attempt to stimulate automobile sales by offering cash back for trading in qualified vehicles. One billion dollars was set aside for the rebates which ranged from $3,500 to $4,500. The program was slated to begin on July 1, 2009 and run through November. Various factors caused it to be delayed to late July and it was an immediate success. So much so, that after only one week there was no money left to reimburse participating dealerships. The program was suspended and at the time of this writing, Congress is debating adding an additional two billion dollars to extend the offer. The “Cash for Clunkers” program is the second popular rebate program in 2009. In February, Congress delayed the switch to digital television by three months after the National Telecommunications and Information Administration announced it ran out of funds for the converter box rebate program. click here for limerick
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