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Tuesday, August 11, 2009

Program restarts: Badgers love 'Clunkers' cash

From an article by Mike Ivey in The Capital Times:

The experts continue to debate the pros and cons of the "Cash for Clunkers" rebate program, but Wisconsin car buyers have already given it a big thumbs-up.

Wisconsin is 10th in the amount of cash requested from the program based on figures from the U.S. Department of Transportation released this week.

Of the nearly $775 million in clunker cash requests so far, more than $24 million came from Wisconsin. Michigan, California and Ohio were the top three states.

The U.S. Senate has approved another $2 billion for the program, which was initially funded with $1 billion.

Officially known as the Car Allowance Rebate System Act, the measure provides up to $4,500 in taxpayer subsidy for those who trade in an old vehicle for a more efficient model. To qualify, the old car needs to get 18 miles per gallon or less while the new one must get at least 22 mpg.

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