One of the changes being made by Obama is for the automobile buyers and sellers. For sellers, he has proposed to increase the current $25 billion federal loan to assist auto makers up to $50 billion. The industrialists however argue that they need unrestricted cash to meet their financial requirements. For further assistance to them, the President is going to try and make changes in the environmental and energy policy, which may in turn benefit the automobile makers. He has decided to make an investment of $ 6.3 billion to related industries to reduce emission of carbon. $2 billion are also to be invested in the manufacturing of battery systems and components for vehicles made in USA. An Auto assistance Ownership amendment which provides tax breaks for new vehicle buyers has been passed .This will give them a federal-income-tax deduction on local sales and excise taxes, but not on the interest on loans. It is applicable to any new vehicle purchased after February 17th 2009 to December 2009.
Certain changes in the travel industry will also have to be made. The departments of transportation will have to find the most environment friendly alternative when designing their transportation solutions. Moreover the government aims to invest $8.4 billion on public transportation to facilitate Americans, $1.5 billion to state and local governments and $9.3 billion to railroad transportation. It is expected that these investments will in the long run facilitate the average American and reduce his transportation costs. The housing stimulus package will also provide a great help to the first time home buyers by providing them with $7500 tax credit. For this they have to buy a home by June 30, 2009.This will also be an interest free loan.
These are just random excerpts of essays, for a more detailed version of essays, term papers, research paper, thesis, dissertation, case study and book reviews you need to place custom order by clicking on ORDER NOW.