Cash for Clunkers Passes House
June 9, 2009
“This legislation gives consumers a reason to trade in that old, gas-guzzling vehicle for a new, more fuel-efficient car or truck. Equally important, this legislation is the kind of practical solution we need to grow our clean energy economy, cut down on pollution, and help families save money at the gas pump,” Congressman Cohen said.
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.
- 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.
The bipartisan legislation is supported by a broad coalition that includes the AFL-CIO, UAW, car dealers, the U.S. Chamber of Commerce and the National Association of Manufacturers.
-30-