House Passes Rep. Cash for Clunkers Bill

Consumers will be able to trade in less fuel-efficient vehicles and receive vouchers ranging from $3,500 to $4,500 to help purchase or lease a more fuel-efficient car or truck.

On June 10, the House of Representatives passed the Consumer Assistance to Recycle and Save (CARS) Act, H.R. 2751, by a margin of 298-119. The bill lets consumers trade in less fuel-efficient vehicles and receive vouchers ranging from $3,500 to $4,500 to help purchase or lease a more fuel-efficient car or truck.

To be eligible, consumers would have to turn in a vehicle rated at 18 mpg or less for one rated at 22 mpg or greater. Pickups and business trucks would have different criteria. The Department of Transportation will outline the eligibility requirements and provide a list of vehicles that will qualify.

"By passing the CARS Act, we can shore up these jobs, get customers back into the showrooms, help our dealers move cars, and improve the environment,"said Rep. Betty Sutton (D-Ohio), co-sponsor of the bill.

For more information, please visit http://www.fueleconomy.gov/.

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