Every once in awhile our elected representatives in Washington have what almost amounts to a good idea.  In this case, last January, the Democrats proposed the so-called, ‘Cash for Clunkers’ program, that would give car buyers up to $4,500 toward the purchase of a new car when they traded in a their current gas guzzler for a model that exceeds federal fuel economy standards.  However, this past week House Energy and Commerce Committee Democrats proposed a a minor change to the vehicle scrappage program; the new vehicle will no longer have to exceed federal fuel economy standards, it just has to be new (correction: it also must exceed the clunker’s mpg rating – but not necessarily exceed the federal fuel economy standard to qualify).

Watered down compromise once again.

source: reuters