Top U.S. Dealers Create Auto Stimulus Plan to Help Consumers Left Behind by Government's Cash For Clunkers Program: www.AutoStimulusPlan.com

/PRNewswire/ -- Some of the largest U.S. Automotive Retailers in the country created a privately funded stimulus program to provide up to $4500 in incentives for consumers to make it easier for them to get a newer more fuel efficient vehicle. The dealer funded Automotive Stimulus Plan was designed to complement the government's program and to compensate for some of the gaps that don't allow consumers to purchase pre-owned vehicles or choose a short term lease. "The government program has been fantastic for business but some of our customers have been disappointed because the programs rules left them behind," said Scott Gruwell from Courtesy Chevrolet, one of GM's largest dealers and one of the retailers participating in the Auto Stimulus Plan. "Letting consumers lease a new vehicle or buy a pre-owned vehicle makes it affordable for a lot of people who could not participate otherwise."

"The government's program helps approximately 10% of the market who qualify but the majority of the consumers who want to upgrade into a more fuel efficient vehicle are not eligible for the governments program," said Brian Benstock from Paragon Auto Group, one of the participating dealers in New York City. "Now we have a program that makes it easy for nearly all consumers with a vehicle that is older than a 2007 to get into a newer more fuel efficient vehicle."

The Automotive Stimulus Plan gives consumers up to $4500 in incentives towards the purchase or lease of a new or pre-owned vehicle with a minimum of 2 mpg of improved fuel economy. The program promises fewer requirements, easier paperwork and no minimum MPG requirements. "The government program is fantastic but there are still consumers who can't afford to buy new or who aren't eligible and the Auto Stimulus Plan is designed to help them," said Rick Case, owner of Rick Case Automotive Group in Florida, Georgia and Ohio. "Consumers will pay less a year to drive a newer car because the payments are so low and the gas and repair savings are so high."

The Automotive Stimulus Plan is a private sector program funded by retailers to provide incentives to consumers that will help the economy and the environment at the same time. To qualify for an incentive a consumer must select a new or pre-owned vehicle with a 2 mpg improvement over their current vehicle, which is the same requirement the government program has for SUVs, but this applies to all vehicles under the dealers plan. "The MPG requirements are lower because our primary goal is to help consumers that don't qualify for the governments program and to stimulate the economy through improved sales, jobs and spending," said Gruwell. "As a result, the environmental benefits will not be as big as the government program but it will help more customers get into more fuel efficient vehicles."

If a consumer does not have a trade, they can participate if they select a vehicle with 2 mpg better than the government's mpg requirement of 17 mpg.

"We have customers who measure their vehicles mpg weekly and they get 12 mpg but the government's calculator says they get 19 mpg so they don't qualify. Our program makes it easier for them get into a more fuel efficient vehicle by not having a minimum mpg requirement for their current vehicle," said Benstock.

The Automotive Stimulus Plan incentives vary by state and the make and model of the vehicle they select. Consumers can learn more about the program and begin connecting with participating retailers by visiting: www.AutoStimulusPlan.com.

Automotive Stimulus Program Requirements:
1. Current vehicle is a 2006 or older
2. Current vehicle is operable
3. Current vehicle has been owned for a minimum of 6 months
4. Current vehicle has been registered for a minimum of 6 months
5. The replacement vehicle has to be more fuel efficient by a minimum of 2
mpg

6. Incentives vary based on the consumers current vehicle and desired
vehicle (visit www.AutoStimulusPlan.com for details)


Incentives vary in some states due to state laws that regulate to automotive advertising and promotion.

The Auto Stimulus Plan will end on November 1st and will continue if the governments program expires before that date.

"We are very happy the $2 billion dollars of additional funding was approved and expect it to last through Labor day," said Vince Sheehy from Sheehy Automotive Group in Washington, DC, Virginia, Maryland and Baltimore, one of the participating dealers. "We also want to help consumers that don't qualify for the governments program with our Stimulus plan. To help consumers and the economy it takes a partnership between the public and private sectors and that is what is happening here."

"We have a lot of consumers who want to upgrade into a more fuel efficient vehicle but don't qualify for the governments program, so the Auto Stimulus Plan helps them, the economy and the environment at the same time," said John Malishenko, Director of Operations for the Germain Automotive Group who owns dealerships in Ohio, Arizona, Florida and Arkansas. "We don't mind giving consumers these extraordinary incentives because our goal is to take care of them so well that they will come back for service and buy all their future vehicles from our dealership."

The organization informs consumers that they should be patient if they cannot get through to the website this week, as the program is being launched and traffic levels may be high. When the governments program went live they experienced difficulties with high traffic volumes that affected their servers and the AutoStimulusPlan.com website may experience similar issues. Consumers are advised to visit at a later time if the site is not functioning properly.

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Less Than 1% of Stimulus Funds Allocated to Middle Class Firms

/PRNewswire/ -- According to the U.S. Census Bureau, 98% of all U.S. firms have less than 100 employees. Approximately 25 million firms fall into that category. These firms employ over 55% of the private sector workforce and are responsible for over 95% of all new jobs created in America. (www.asbl.com)

The American Small Business League (ASBL) has found of the $2.7 trillion that has been allocated so far to stimulate the national economy, only $21 billion, or less than 1% of the funds have directly gone to small businesses. (http://tinyurl.com/mfzfp7)

The remainder of the funds that were allocated to businesses wound up in the hands of the top 1% of U.S. firms. President Obama has promised to create up to 4.1 million jobs. Census data indicates the top 1% of U.S. firms have not created one net new job since 1977.

There is evidence to suggest the economic stimulus plan is actually harming small businesses. The Wall Street bailout bills were touted as being essential to increasing access to capital for small businesses. Some of the firms that received billions in federal tax dollars are actually cutting access to capital for small businesses. A story in BusinessWeek reported that JPMorgan Chase, one of the largest recipients of the bailout funds, reduced the flow of credit lines for small businesses. (http://tinyurl.com/ou7j79)

Section 107 of the original Wall Street bailout bill gave the Treasury Secretary the power to waive any provisions of the Federal Acquisition Regulations (FAR) he chooses. Paragraph 9 (b) of the bill specifically mentions the waiver of "any provision of the Federal Acquisition Regulations pertaining to minority contracting" and the waiver of provisions pertaining to "woman-owned businesses."

The Obama Administration is supporting a new bill in Congress that could dismantle existing federal economic stimulus programs for small businesses by changing the federal definition of a small business. The new definition will allow many of the nations wealthiest venture capitalists to take billions of dollars in federal contracts previously earmarked for small businesses.

In February of 2008 President Obama stated, "It is time to end the diversion of federal small business contracts to corporate giants." To date, the President has refused to adopt any policy to honor that campaign promise. A series of federal investigations discovered that billions of dollars in federal small business contracts are being diverted to Fortune 1000 firms.

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Wildlands Speeds Delivery of Federal Stimulus Projects

(BUSINESS WIRE)--Georgia is at risk of losing millions of dollars from a proposed federal public works stimulus package if these projects lack environmental permits. Wildlands, Inc. can help by offering wetland and stream mitigation credits to city, county and state agencies needing rapid permitting of public projects.

The incoming Obama Administration has asked Congress to assemble a stimulus package that includes massive spending on a variety of public projects including highway and bridge repairs and maintenance, new and upgraded schools, water supply reservoirs, and energy-efficient government buildings, among other projects. However, candidate projects for stimulus funding must be “shovel ready” and have all necessary permits within 180 days of package approval.

Public works projects impacting wetlands and streams are often required to offset project impacts through compensatory mitigation and habitat replacement. Wildlands’ mitigation credits provide a quick, efficient and cost-effective solution to this requirement.

“Wildlands stands ready to assist government agencies with fulfilling mitigation requirements with quality habitat replacement as quickly as possible,” says Wildlands’ CEO Steve Morgan.

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Westmoreland: Stimulus Requires Pro-Growth Policies

U.S. Rep. Lynn Westmoreland expressed his support last week for the Republican Study Committee’s pro-growth economic package as the best means to stimulate our nation’s sagging economy.

“Our economy has suffered some serious shocks, from the housing market problems to drops in the stock markets, at the same time that the dollar isn’t going as far for American families at the gas pump or the grocery store,” Westmoreland said. “Now is a great time for this series of targeted tax cuts that will spur consumer spending and encourage businesses to continue to invest, expand and create new jobs.”

Highlights: The Economic Growth Act contains four main provisions, as follows:

1) Full, Immediate Expensing. The bill would allow all businesses to immediately expense — or fully deduct on their tax returns — the costs of assets (including buildings) they purchase for their business in the year that they buy such assets (“Section 179” expensing). Under current law, businesses can only take limited deductions in pieces, over several years. By uncapping and accelerating the expensing, this provision would encourage the purchase of assets with which to grow a business.

2) Significant Reduction in the Top Corporate Tax Rate. The bill would immediately cut the top corporate income tax rate from 35 percent to 25 percent, aligning it with the average rate in the European Union. By allowing businesses to keep more of the money they earn, this provision would encourage the expansion of businesses, the hiring of more workers and an acceleration of investment, while making American companies more competitive internationally.

3) End the Capital Gains Tax on Inflation. The bill would index for inflation the cost basis used when calculating the capital gains tax on assets acquired before the end of 2008. Under current law, the capital gains tax is based on the difference in the original purchase price of the asset and the sale price of the asset. However, some of this difference, or “gain,” can be attributed to inflation. By effectively reducing the amount of a gain that is taxable, this provision would encourage the movement of capital in 2008 and spur voluminous economic investment.

4) Simplify the Capital Gains Rate Structure. The bill would allow corporations to benefit from the 15 percent capital gains rate. Under current law, individuals pay a top capital gains rate of 15 percent, but corporations are subject to a 35 percent top rate. By encouraging corporations to sell unwanted assets, this provision would unleash funds and materials with which to create jobs and grow the economy.

“We all like to think that Washington can flip a switch and help our nation avoid an economic downtown,” Westmoreland said. “Fact is, we have a strong, dynamic economy that doesn’t turn on a dime. I’m sure that in coming weeks, Congress is going to take act to kick start the economy as much as possible but our best hope is too strengthen the fundamentals of our economy even more to assure steady, long-term growth. That’s what the Republican Study Committee’s Economic Growth Act provides and I hope that we’ll be able to incorporate these ideas into any stimulus package.”

The Republican Study Committee is the caucus for House conservatives. The RSC’s pro-growth plan mirrors proposals put forth by Americans for Tax Reform.