Friday, July 31, 2009

Washington, D.C. – Congresswoman Dina Titus of Nevada’s Third District voted today to increase funding for an extension of the popular “Cash for Clunkers Program” that allows Nevadans to trade in old gas guzzlers for new fuel-efficient cars.  Funding for the program has run out and the House of Representatives took swift action to extend it by transferring $2 billion from the funding through recovery act.

“Through the ‘Cash for Clunkers’ program, our ailing auto industry has received a jolt as consumers have rushed to take advantage of the vouchers for fuel-efficient cars,” Congresswoman Titus said.  “Extending this successful program will not only take us one step closer to reducing our dependence on foreign oil and protecting our environment by putting cleaner cars on the road, but it will also spur sales at a time when our economy needs a boost.”

“Cash for Clunkers” allows consumers to trade in their old cars for vouchers worth up to $4,500 to help pay for new, more fuel-efficient vehicles.  Nearly 200,000 cars have already been bought through the program and it is expected to spur the sale of up to 800,000 more fuel-efficient cars and truck.

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.

Additional information on the “Cash for Clunkers” program is available at www.cars.gov.

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Tags: economy