News: Top 5 Stories of the Week
“Cash for Clunkers” legislation has gained traction
on Capitol Hill as competing bills in the House have been consolidated
and moved out of committee. The White House and the House Energy and
Commerce Committee reached an agreement on proposed legislation, which
now moves to the full House for consideration.
"’Cash for clunkers’ is a common-sense proposal that will help provide
a shot in the arm for the American auto industry at a crucial time for
our economy, reduce the emissions that cause climate change, and make
America more energy independent,” said House Speaker Nancy Pelosi. “By
helping Americans trade in their old, less fuel efficient cars and
trucks for newer, higher mileage vehicles, consumers will save money at
the pump, help protect our planet, and create and save jobs for
The bill, known as the Consumer Assistance to Recycle and Save (CARS)
Act, would provide $3,000 to $7,500 vouchers to owners of vehicles that
are at least 8 years old to purchase more fuel-efficient vehicles. The
vouchers are based on the new vehicles’ miles per gallon and vary
depending on where they were built.
Numerous automotive aftermarket associations including AASA, AAIA,
CAWA, CARE, SEMA and others, have expressed opposition to the plan.
SEMA issued a statement expressing its disappointment in the
measure because scrapping cars would jeopardize the jobs of independent
repairers, restorers and vehicle customizers and endanger collector
cars for future generations. SEMA says it’s in contact with members of
Congress to create an incentive program that instead would encourage
vehicle and parts recycling.
For more information, visit www.sema.org.
Click HERE to read about the bill’s introduction.