President Obama signs cash for clunkers bill President Obama today signed the “ cash for clunkers ” law, now known as “Car Allowance Rebate System,” that has been touted as a key stimulator for the auto industry and an environmental aid. The law provides $1 billion in funding, with $50 million allocated for administration. The specific guidelines for the program will be revealed in the next 30 days, when the plan takes effect on August 1. The CARS program is intended to encourag
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If you thought the Obama administration was finished putting a hammerlock on the United States automotive industry, think again. On Wednesday, Energy Secretary Steve Chu announced that the first loans have been finalized from the $25 billion Advanced Technology Vehicle Manufacturing Program – a pot of money that will be doled out by the Department of Energy to help manufacturers offset retooling costs in converting factories to build eco-friendlier cars. Among the lucky applicants receiving app |
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