Friday, July 31, 2009

House Deems "Cash for Clunkers" an Emergency, Allocates Another $2B

In case you missed out on the first billion dollars - don't worry, the House of Representatives has just passed HR 3435 ( Making supplemental appropriations for fiscal year 2009 for the Consumer Assistance to Recycle and Save Program) a.k.a Cash for Clunkers. This bill (below) will add $2Billion to the car buying extravaganza/spree event that blew through $1Billion in it's first week of existence. Details can be found on the self explanatory website

As someone who finds humor in virtually every piece of legislation to come out of Congress, we'd like to direct you to lines 18 through 20 of the fresh legislation, which reads:

"That the amount under this heading is designated as an emergency requirement and necessary to meet emergency needs pursuant to sections 403 and 423(b) of S.Con.Res. 13 (111th Congress)"

It's good to know that the boys in Congress consider a $4500 car buying rebate to be an "emergency"

HR3435 Sphere: Related Content

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