|
Washington, D.C. – Congressman Pete Visclosky today voted for a bill to provide stop-gap funding for the Car Allowance Rebate System program, commonly known as Cash for Clunkers. The bill, which passed the U.S. House of Representatives by a bipartisan vote of 316 to 109, extends funding for Cash for Clunkers, which has been so successful in encouraging Americans to trade in their old gas guzzlers for new fuel-efficient cars, that funding ran out in a matter of days.
“By making fuel efficient cars more affordable and accessible, Cash for Clunkers helps stimulate the auto industry, which in turn stimulates Northwest Indiana’s steel industry, as well as reduces our dependence on foreign oil and cuts carbon emissions,” said Visclosky. “The program provides important assistance to hardworking Americans during tough economic times, and has positive repercussions throughout the economy. The end result is economic recovery and job creation from the auto dealerships to the steel mills and everywhere in between.”
Cash for Clunkers helps support a new clean energy economy by providing consumers with up to $4,500 towards the purchase of new, more fuel-efficient vehicles when they trade in their old cars or trucks that get poor gas mileage. Almost 200,000 cars have already been bought through the program, and it is expected to spur the sale of up to 800,000 more fuel-efficient cars and trucks. By boosting auto sales the program helps auto companies, suppliers such as steel companies, and auto dealers recover from the recession at the same time as it reduces our dependence on foreign oil and cuts harmful carbon emissions.
The legislation provides rebates for cars and trucks in the following four categories:
- Passenger Cars – The old vehicle must get 18 mpg or less. New vehicles with improvement of at least 4 mpg will get a $3,500 voucher. New vehicles with improvement of at least 10 mpg will get a $4,500 voucher;
- Light-Duty Trucks – The old vehicle must get 18 mpg or less. New vehicles with improvement of at least 2 mpg will get a $3,500 voucher. New vehicles with improvement of at least 5 mpg will get a $4,500 voucher;
- Large Light-Duty Trucks – The old vehicle must get 15 mpg or less. New vehicles with improvement of at least 1 mpg will get a $3,500 voucher or trade-in of a “work truck.” New vehicles with improvement of at least 2 mpg will get a $4,500 voucher; and
- Work Trucks – The old vehicle must be a pre-2002 model. New vehicles in the same or smaller weight class will get a $3,500 voucher.
|
|
|
