On a day when every major new car company reported dismal sales figures, the Democrats in the Senate pushed to add incentives to the stimulus plan that would reward buyers of new cars.
I should say, "sort of." What the addition to the stimulus plan would actually do is allow buyers to deduct their sales tax from new car purchases as well as interest payments on car loans from their income tax returns.
As a deduction, rather than a credit, buyers would only see a percentage of the amount returned to them --- but in this time of recession, it's better than nothing.
The 71-26 vote came as President Barack Obama said he lies awake nights worrying about the economy.
As I indicated, Tuesday car makers released sales figures that showed massive drops in sales when taken year-over-year.
Sales fell 49 percent at General Motors and 40 percent at Ford. Toyota and Nissan's sales each fell at least 30 percent. And Chrysler lost 55 percent of its sales.
Hyundai, which early announced a program which would allow a consumer to return a car, no questions asked, for a full refund if he lost his job in the first year, posted a 14 percent gain.
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