Did President Obama endorse a “cash for clunkers” program today? Maybe.
In detailing the government’s latest efforts to shore up General Motors and the U.S. auto industry, Obama said this:
Finally, several members of Congress have proposed an even more ambitious incentive program to increase car sales while modernizing our auto fleet. Such fleet modernization programs, which provide a generous credit to consumers who turn in old, less fuel efficient cars and purchase cleaner cars have been successful in boosting auto sales in a number of European countries. I want to work with Congress to identify parts of the Recovery Act that could be trimmed to fund such a program, and make it retroactive starting today.
Pulling older-model cars off America’s freeways could do a lot to improve air quality, as studies have shown that a large portion of air pollution can be attributed to these cars.