VH_Supra26
05-21-2009, 09:14 AM
by James Martinez
http://www.motorauthority.com/content/thumbs/2/0/2000_gmc_yukon_main630_01_0115_630x360-0318-630x360.jpg
SUV and truck owners can only trade in vehicles rated at 15mpg or lower under the program
Earlier this year the original Cash for Clunkers bill was rejected by the Senate because of research that showed the program wouldn't have made much impact on auto sales or emissions. A revised version of that bill has since been presented to Congress, and now it's on its way to being made law as part of the climate change bill soon headed to the House floor.
The cash for clunkers amendment was added to the climate change bill in a 50-4 vote of the Commerce Committee, reports the Detroit Free Press. The bill it's riding on is called the American Clean Energy and Security Act.
If the cash for clunkers program is implemented, it would attempt to stimulate sales of new cars by offering vehicle owners a cash incentive for trading in old cars for newer fuel-efficient ones. The latest revisions to the program would offer $3,500 to SUV or light truck owners who trade in their vehicles for pickups or SUVs rated at 1mpg more than their old truck - which must have been rated 15mpg or worse. Trucks rated 2mpg or more above the old truck get a $4,500 voucher.
Passenger cars owners with vehicles rated 18mpg or worse have to buy a new vehicle rated 2mpg over the old one to get the $3,500 voucher, and 5mpg more to get up to the $4,500 voucher.
Similar plans have been in place in Germany for some time now, and citing these as the chief cause of spikes in new car sales in the German market, domestic carmakers such as Ford and GM are convinced that a similar initiative in the U.S. could have good results.
It's still not clear if the clunker program's inclusion alongside the new measure will make it easier or more difficult to get through the legislative process, as the wide-ranging considerations in the climate bill could find much opposition in the Senate.
All Content Copyright 2006-2008 Motor Authority
http://www.motorauthority.com/revised-cash-for-clunkers-bill-offers-up-to-7500-for-old-trade-ins.html
http://www.motorauthority.com/content/thumbs/2/0/2000_gmc_yukon_main630_01_0115_630x360-0318-630x360.jpg
SUV and truck owners can only trade in vehicles rated at 15mpg or lower under the program
Earlier this year the original Cash for Clunkers bill was rejected by the Senate because of research that showed the program wouldn't have made much impact on auto sales or emissions. A revised version of that bill has since been presented to Congress, and now it's on its way to being made law as part of the climate change bill soon headed to the House floor.
The cash for clunkers amendment was added to the climate change bill in a 50-4 vote of the Commerce Committee, reports the Detroit Free Press. The bill it's riding on is called the American Clean Energy and Security Act.
If the cash for clunkers program is implemented, it would attempt to stimulate sales of new cars by offering vehicle owners a cash incentive for trading in old cars for newer fuel-efficient ones. The latest revisions to the program would offer $3,500 to SUV or light truck owners who trade in their vehicles for pickups or SUVs rated at 1mpg more than their old truck - which must have been rated 15mpg or worse. Trucks rated 2mpg or more above the old truck get a $4,500 voucher.
Passenger cars owners with vehicles rated 18mpg or worse have to buy a new vehicle rated 2mpg over the old one to get the $3,500 voucher, and 5mpg more to get up to the $4,500 voucher.
Similar plans have been in place in Germany for some time now, and citing these as the chief cause of spikes in new car sales in the German market, domestic carmakers such as Ford and GM are convinced that a similar initiative in the U.S. could have good results.
It's still not clear if the clunker program's inclusion alongside the new measure will make it easier or more difficult to get through the legislative process, as the wide-ranging considerations in the climate bill could find much opposition in the Senate.
All Content Copyright 2006-2008 Motor Authority
http://www.motorauthority.com/revised-cash-for-clunkers-bill-offers-up-to-7500-for-old-trade-ins.html