June 9, 2009: CONGRESSMAN RYAN ACTS TO HELP AUTO INDUSTRY WITH “CASH FOR CLUNKERS” VOUCHERS

Jun 10, 2009
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Washington, DC – Today, Congressman Tim Ryan (OH-17) voted for a “cash for clunkers” program that he co-sponsored that will allow consumers to trade in their old cars for vouchers worth up to $4,500 to help pay for new, more fuel-efficient vehicles. The Consumer Assistance to Recycle and Save Act is expected to help jump start the sale of up to one million more fuel-efficient cars and trucks.

 

“The first step towards saving our auto industry is jumpstarting demand in the marketplace,” said Congressman Tim Ryan. “This bill is a win for everyone, it will help create auto sales, it will help reduce our dependence on foreign oil and help protect our environment. I also want to urge anyone who is going to take advantage in this program to buy American.”

 

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.