Cash for Clunkers, again?
Sen. Chuck Schumer is trying to resurrect the horrible idea that was 2009's "Cash for Clunkers" law. Schumer's $454 billion proposal would be to incentivize people to trade in their vehicles and buy an electric vehicle. If history repeats a self and it sometimes does, we'll see again where lower income people will not be able to afford to trade up on these new vehicles or the maintenance on them. Operable vehicles that could be sold to lower income people so some of them can have reliable transportation will be crushed. But for those who will be able to afford to trade-in their gasburners & receive government subsidies for the new electric vehicle will now find themselves in deeper debt.
