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Cash for ClunkersThe bill passed the Senate on a vote of 91-5 after Senate Dems were able to keep it attached to a larger war funding bill. The new law should take affect 1 month after it is signed and is extended through November with a change for renewal then.
SUMMARY OF CASH-FOR-CLUNKERS AGREEMENT :
| Passenger car | Light-duty truck | Large light-duty truck (6,000-8,500 lbs.) | Work truck (8,500-15,000 lbs.) | |||||
| Minimum fuel economy for new vehicle | 22 mpg (EPA combined) | 18 mpg (EPA combined) | 15 mpg (EPA combined) | Not applicable | ||||
| $3,500 voucher | Mileage improvement of at least 4 mpg. | Mileage improvement of at least 2 mpg. | Mileage improvement of at least 1 mpg or trade-in of a work truck. | Trade-in must be at least pre-2002. | ||||
| $4,500 voucher | Mileage improvement of at least 10 mpg. | Mileage improvement of at least 5 mpg. | Mileage improvement of at least 2 mpg. | NA | ||||