Cash For Clunkers Helped Car Dealers, Not So Much For State
Cash For Clunkers helped increase sales-tax collections at auto dealerships across upstate New York and Long Island in the third quarter by $17.1 million, an increase of 10 percent, Comptroller Thomas DiNapoli said in a report today.
But the national program didn’t offset the state’s decline in sales-tax revenue, which was down 7.2 percent for the first nine months of the year.
The numbers are consistent with the decline reported last month in counties’ sales-tax revenue.
“The Cash for Clunkers program gave a small sales-tax boost to counties statewide,” DiNapoli said. “But sales tax revenues are still down more than 7 percent for the year. That’s put a lot of pressure on local governments.”
The Capital and Mid-Hudson regions saw the largest auto sales-tax increases from the Cash For Clunkers program, 15 percent and 12.9 percent respectively. The smallest boost was in central New York, which saw its auto sales tax increase by 4.1 percent for the quarter.
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Cash for clunkers did not help car dealers or the economy. It just cost taxpayers, the poor and charities that rely on the revenue from car donation a lot of money.
Well, they totally fouled this up, but they’ll certainly get the 1.2 trillion dollar health plan right. Won’t they? Not.
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