Grassley seeks accounting of 'Cash for Clunkers' costs

Sen. Charles E. Grassley (R-Iowa) wrote to Transportation Secretary Ray LaHood this week requesting details of the department's contracts with companies and federal agencies that administered the program. The department contracted with Citibank, Vangent, Affiliated Computer Services, the Internal Revenue Service and the Federal Aviation Administration, among others, according to the DOT report.

A report submitted to Congress in late December said the department has spent $77 million on administrative costs

Click on the following for more details:  Grassley seeks accounting of 'Cash for Clunkers' costs - washingtonpost.com

Used-car market taking big hit from Clunkers

A 2006 minivan, if you can find one, will probably cost you $600 or $700 more than a year ago."

Two years ago, our sales would be maybe 70 percent new, 30 percent used," Grady said. "Now it's more like 50-50."

used cars are gradually starting to become more available, and their prices have begun to stabilize or even fall, dealers agree

Used-car market taking big hit from Clunkers :: The Courier News :: Local News

Golf Cart Subsidies - WSJ.com

The golf-cart boom has followed an IRS ruling that golf carts qualify for the electric-car credit as long as they are also road worthy. These qualifying golf carts are essentially the same as normal golf carts save for adding some safety features, such as side and rearview mirrors and three-point seat belts. They typically can go 15 to 25 miles per hour.

The federal credit provides from $4,200 to $5,500 for the purchase of an electric vehicle, and when it is combined with similar incentive plans in many states the tax credits can pay for nearly the entire cost of a golf cart.

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State budgets get adrenaline shot from Clunkers

Edmunds.com estimated that the average clunker sales price was $26,321, meaning roughly $18 billion worth of new vehicles were sold under the program. Multiplied by the average combined state and local sales tax of 7.5 percent, the total tax bill amounts to a loose estimate of $1.36 billion.

"Has the pool been drained as a result of this program for the next couple of months? That is the question," he said.

Click on the following for more details:  State budgets get adrenaline shot from Clunkers - Yahoo! News

Is 'Cash for Clunkers' for Chumps? - ABC News

 

when automobile dealers across the country began the certification process this morning, the federal computer system they logged into crashed due to the overwhelming demand, ABC Denver affiliate KMGH reported today.

Is 'Cash for Clunkers' for Chumps? - ABC News

Chrysler to boost cash-for-clunkers deal | Freep.com | Detroit Free Press

 

Chrysler will offer up to $4,500 cash or 0% financing for 72 months through GMAC Financial Services on most 2009 model vehicles. These incentives are valid through Aug. 31, 2009.

Click on the following for the rest of the story:  Chrysler to boost cash-for-clunkers deal | Freep.com | Detroit Free Press