NPT DC: Cash for Clunkers program rebates up to $4,500 for fuel-efficient vehicle purchase
Couple of days late (sent to NPT Tuesday), but worth noting:
REYES VOTES TO SAVE AMERICAN JOBS, HELP CONSUMERS SAVE ON GAS, AND REDUCE POLLUTION WITH “CASH FOR CLUNKERS” VOUCHERS
“Cash For Clunkers” bill would help Americans save thousands of dollars on the purchase of new, fuel efficient vehicles
WASHINGTON, D.C. – Congressman Silvestre Reyes (D-TX) today voted to support new incentives for consumers to trade-in their used vehicles for newer, more fuel-efficient models to reduce America’s dependence on foreign oil and decrease the level of harmful emissions into the environment. The Consumer Assistance to Recycle & Save (CARS) Act, also known as the “Cash for Clunkers” bill, would provide up to $4,500 in rebates toward the purchase of new, more fuel efficient vehicles. The measure passed by a vote of 298-119 and now proceeds to the U.S. Senate for consideration.
“This legislation is particularly important for border communities such as El Paso where everyday thousands of vehicles are stalled at the international bridges for several hours,” Congressman Reyes said. “This bill would not only reduce the amount of harmful emissions into our environment but would also decrease America’s dependence on foreign oil. This legislation would benefit many local residents who need a little extra help during these difficult economic times.”
The legislation would authorize $4 billion for a national voucher program to provide rebates on purchases of, or leases of up to five years on, new vehicles with higher fuel efficiency standards. The new qualifying vehicles cannot be more than $45,000 and must get at least 22 miles per gallon (mpg) for passenger vehicles, 18 mpg for light duty trucks, and 15 mpg for work trucks. Vouchers would range in value from $3,500 to $4,500 depending on the level of fuel efficiency.
This 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.
The Consumer Assistance to Recycle and Save Act will help stimulate the ailing auto industry by spurring the sale of up to one million more fuel-efficient cars and trucks nation-wide. Automobile sales have been on the decline for 18 months, and tens of thousands of jobs in the El Paso/Juarez region depend on the viability of car manufactures.