Senate Proceeding on Aug 6th, 2009 :: 7:22:00 to 7:26:20
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7:21:56 to 7:22:16( Edit History Discussion )

Richard Shelby: if you goat that two and a half years faster if you buy the car now than if you buy it a year fr mr. coburn: two years from it will have four or five miles better mileage. mr. levin: it may. we don't know that. mr. cobu chairman and i yield back. the presiding officer: the

7:22:00 to 7:26:20( Edit History Discussion )
Speech By: Richard Shelby

7:22:17 to 7:22:37( Edit History Discussion )

Richard Shelby: se mr. shelby: madam president, one week after commencing the $1 billion cash-for-clunkers program, it's so parlor that it has used up all its funds. could it be that through this program, which entices car buyers with up to $4,500 to trade in their old cars, the government has finally devised a smart way to stimulate the

7:22:38 to 7:23:00( Edit History Discussion )

Richard Shelby: economy? in a word, madam believe it's "no." instead, the federal government has sent another $1 billion of taxpayer funds into an economic abyss with $2 billion of taxpayers' funds it looks like it's going to follow. it has rob the peter to pay paul, to give a kickback to the

7:23:01 to 7:23:21( Edit History Discussion )

Richard Shelby: auto motive industry perhaps. madam president, advocates of the cash-for-clunkers program state the additional $2 billion inninin the program is such success. of course it is. who does not want free money? everybody. the cash-for-clunkers program is

7:23:22 to 7:23:42( Edit History Discussion )

Richard Shelby: simply another bailout to prop up a environmentally friendly program, in my judgment. while i agree that there are benefits to getting older, less fuel-efficient vehicles off the road, do not be fueled. that is not even what the program accomplishes.

7:23:43 to 7:24:04( Edit History Discussion )

Richard Shelby: let me explain briefly. under the cash-for-clunkers program, it does not matter, as i understand it, how big a difference in gas mileage there is between the karr trading in and the car that you are buying. the trade-in must only meet the 18-miles-per-gallon requirement to be considered a clunker. after that madam

7:24:05 to 7:24:25( Edit History Discussion )

Richard Shelby: environmental concerns end. as a result, under the cash-for-clunkers program, replacing an vehicle with one that offers 22 miles per gallon gets a subsidy. but you do not receive any federal funds if you replace a 19-miles-per-gallon vehicle with one that gets 40 miles per gallon.

7:24:26 to 7:24:46( Edit History Discussion )

Richard Shelby: think about it. if improving gas mileage is the goal, then a sliding scale that adjusted the stubzy would seem reasonable. or if reducing emissions from older cars is the objective, the subsidy could be larger for

7:24:47 to 7:25:07( Edit History Discussion )

Richard Shelby: trading in older vehicles. the cash-for-clunkers program does not do either. so if there are no significant environmental benefits, then the goal must be to help stimulate the economy. yet, madam president, the program has done little to actually stimulate the economy. many of the individuals taking advantage of the program's

7:25:08 to 7:25:28( Edit History Discussion )

Richard Shelby: subsidies are not new car buyers that are spurred by this incent those who put their purchase on hold waiting for the program to launch or begin p. madam president, simply put, these buyers would have bought the cars anyway.

7:25:29 to 7:25:50( Edit History Discussion )

Richard Shelby: edmondson.com stated this number could be over 100,000 car buyers. further, the 200,000 deals the government was originally prepared to fund through the cash-for-clunkers

7:25:51 to 7:26:11( Edit History Discussion )

Richard Shelby: program were likely the natural clunker trade-in rate that would have happened anyway. this pgr normal activity in just a few days. when the backlog is believe interest in the program will fade and the facade of economic benefit will disappear. madam president, the cash-for-clunkers program i

7:26:12 to 7:26:20( Edit History Discussion )

Richard Shelby: believe is a shell game of transferring wealth from the pockets of one taxpayer to another. we should call it what it really