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Business

Hensarling On Cash For Clunkers, Ctd.

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A qualm-having FBvian points out a drawback of the Cash for Clunkers program (official name: Cash Allowance Rebate System), which is only open to vehicles manufactured in 1984 or later that get 18 mpg or less:

I have a problem with the CARS program – not all cars older than 25 years are “classic” cars. Folks with these “clunkers” are out of luck because of this restriction.

Near as I can tell, the ’84 cutoff was put in partly to appease classic-car owners, who feared the feds might start confiscating or otherwise messing with their older rides.

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