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Congresswoman Maxine Waters (CA-35) today voted in favor of a "cash for clunkers" program that will allow consumers to trade in their old, gas-guzzling cars for vouchers worth up to $4,500 to help pay for new, more fuel-efficient vehicles. The Consumer Assistance to Recycle and Save (CARS) Act, H.R. 2751, will spur the sale of up to one million more fuel-efficient cars and trucks, while stimulating the ailing auto industry and reducing our dependence on foreign oil.
" 'Cash for Clunkers' is a smart program that will help save money at the gas pump, grow our clean energy economy and cut down on pollution as we reduce consumption by over 250 million gallons of gas," said Congresswoman Waters. "It goes a long way towards getting Americans back to work and behind the wheel of a cleaner, more environmentally-friendly car."
The legislation saves consumers money by providing rebates for people who trade in old vehicles to buy new, more fuel-efficient cars and trucks in the following four categories:
-Â Passenger Cars: The old vehicle must get 18 miles per gallon (mpg) or less. New vehicles with an improvement of at least 4 mpg will get a $3,500 voucher. New vehicles with an improvement of at least 10 mpg will get a $4,500 voucher.
-Â Light-Duty Trucks: The old vehicle must get 18 mpg or less. New vehicles with an improvement of at least 2 mpg will get a $3,500 voucher. New vehicles with an improvement of at least 5 mpg will get a $4,500 voucher.
-Â Large light-Duty Trucks: The old vehicle must get 15 mpg or less. New vehicles with an improvement of at least 1 mpg will get a $3,500 voucher or trade-in of a "work truck." New vehicles with an improvement of at least 2 mpg will get a $4,500 voucher.
-Â 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. Similar efforts abroad have yielded impressive results: Germany boosted its automobile sales by 20 percent after similar legislation was implemented.
"So many people support this bill because it's a win for the consumer, the economy, the environment, and the auto industry," said Congresswoman Waters. "We're able to save American consumers money and save American jobs, and at the same time we help our struggling auto dealers while we continue along the path towards a cleaner, greener economy."