this post was submitted on 05 Oct 2024
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I'm not the biggest fan of it either, I only mentioned it as an example that some people will willingly destroy their own cars for a small incentive. I recall it shrunk the used car market noticeably, which had the effect of raising the price of transportation for people who couldn't afford new cars.
Had it been crafted with lower emissions as the end goal instead of economic stimulus, such as the credit only applying to only the most fuel efficient vehicles from each brand, it could've had a larger positive effect. It wasn't a complete waste, though. Taking the most fuel inefficient vehicles off the road, even when replaced with a modest improvement, can have a profound difference, since MPG is a not linear decrease in gas usage.
The alternative bill described in the wikipedia article that some democrats proposed would've done more good, especially as it would've given $1,000 toward purchasing a more fuel efficient used car as well.