The Consumer Assistance to Recycle and Save Act (CARS), or ‘Cash for Clunkers' as it is also referred to, passed the House by an overwhelming majority on Tuesday evening. This bill would provide cash incentives for new car buyers who are willing to give up their cars that get less miles per gallon (mpg) then new ones. If a companion bill passes the Senate and the President signs it, which he said he supports, the federal government would pay car owners a certain amount of money depending on how many more mpgs their new car would get.

CARS, sponsored by Rep. Betty Sutton (D-13-Ohio), aims to get more fuel-efficient cars on the road by rewarding owners with a discount to buy a newer, environmentally friendly automobile. Take note though; this is for passenger cars, trucks and SUVs so if you are thinking about updating your work vehicle any time soon, consider waiting until the Cash for Clunkers program is initiated.

Keep your eye on Capitol Letters for more updates.

Want more information on ‘Cash for Clunkers'? Go here for more.

Comments

Name *
Email (For verification & Replies)
URL
Code   
ChronoComments by Joomla Professional Solutions

Submit Comment