Money Files Finance Blog

Archives for July, 2009

Congress and the Obama administration scrambled to triple the size of the overwhelmingly popular “cash for clunkers” program yesterday, after it appeared to be exhausting its $1 billion funding in its first week.

What’s a clunker? To qualify for the government’s Car Allowance Rebate System, trade-ins must be less than 25 years old and get less than 18 miles per gallon.

Which? Car says price rises of up to 14% mean the government’s car scrappage scheme may not be worth it Consumers were today warned that buying a new car under the government’s car scrappage scheme could be a false economy because some manufacturers have raised list prices by up to 14% since last year

Finance Minister Bill English is defending taxpayers paying $1000 a week for his family home in Wellington, saying National put a cap on the accommodation allowance for ministers when it took office.

Six months after applying for the Home Heat Rebate, Charles Kendall of Stephenville is frustrated he still has no answer as to whether he will receive it or not.

Time is running out to take advantage of the home renovation tax credit that was part of the economic stimulus package in the 2009 budget, MP Dean Del Mastro says. “We’re at the halfway point on the program,” he said yesterday.

Credit card bill hurts the little guy

Millions of Americans are making dramatic career turnabouts in this withering recession as a range of industries including those involving cars, finance, real estate and construction are shedding hundreds of thousands of jobs, many of which analysts say likely won’t return for years, if ever.

WASHINGTON _Congress’ efforts to overhaul the nation’s health care system have been marred by confusion and a striking lack of consensus even among the ruling Democrats, despite intense but failed efforts by President Barack Obama and Democratic leaders to craft a plan by early August.

Source: Reuters) * House panel set to vote on bill later Friday * Government negotiation on Medicare drug prices seen * Health battle will move to home …