I got this email last night. To bad I can't afford a new car
Dear Brian,
I am writing to tell you about a great victory for Michigan, our
domestic automakers, and our small businesses today in the U.S. Senate.
Today the Senate passed an emergency supplemental spending bill that
included a new "cash for clunkers" program based on legislation that I
authored, the Drive America Forward Act. The bill was already passed by
the House of Representatives, so it now goes to President Obama for his
signature.
Under the provisions of the bill, consumers may trade in their older
vehicles and receive vouchers worth up to $4,500 toward the purchase or
qualified lease of a new, more fuel-efficient car or truck. The $1
billion program provides vouchers for vehicles leased or purchased
before November 1, 2009. Once the bill is signed, the Administration
will formalize the program and release detailed information about how it
will work. You can check my website (http://stabenow.senate.gov
<http://stabenow.senate.gov> ) for more information in the coming weeks.
Trade-in Vehicle Requirements
w Be in drivable condition
w Be continuously insured and registered to the same owner for at least
one year
w Have a combined fuel economy value of 18 mpg or less (Work trucks must
be pre-2002 regardless of mpg)
w Not be more than 25 years old with historic or aesthetic value. These
vehicles are valued by hobbyists or are a valuable source of restoration
parts.
New Vehicle Requirements
w The new vehicle must have a manufacturer's suggested retail price of
less than $45,000.
w New passenger cars with mileage of at least 22 mpg are eligible for
vouchers. If the mileage of the new car is at least 4 mpg higher than
the old vehicle, the voucher will be worth $3,500. If the mileage of
the new car is at least 10 mpg higher than the old vehicle, the voucher
will be worth $4,500.
w New small trucks or SUVs with mileage of at least 18 mpg are eligible
for vouchers. If the mileage of the new truck or SUV is at least 2 mpg
higher than the old vehicle, the voucher will be worth $3,500. If the
mileage of the new truck or SUV is at least 5 mpg higher than the old
vehicle, the voucher will be worth $4,500.
w New large trucks (pick-ups and vans weighing between 6,000 and 8,500
pounds) with mileage of at least 15 mpg are eligible for vouchers. If
the mileage of the new truck is at least 1 mpg higher than the old
truck, the voucher will be worth $3,500. If the mileage of the new
truck is at least 2 mpg higher than the old truck, the voucher will be
worth $4,500.
w Consumers can trade in a pre-2002 work truck (defined as a pick-up
truck or cargo van weighing from 8,500-10,000 pounds) and receive a
voucher worth $3,500 for a new work truck in the same or smaller weight
class. There are no EPA mileage measures for these trucks; however,
because newer models are cleaner than older models, the age requirement
ensures that the trade will improve environmental quality. Consumers
can also "trade down," receiving a $3,500 voucher for trading in an
older work truck and purchasing a pick-up or van weighing between
6,000-8,500 lbs.
w The mpg values are EPA combined city/highway fuel economy as posted on
the window sticker of new vehicles and can be found at fueleconomy.gov
<http://fueleconomy.gov/> .
I will continue fighting in the U.S. Senate to create jobs in Michigan
and protect our domestic manufacturing industry and our small
businesses. As always, please continue to keep me informed of issues of
concern to you and your family.
Sincerely,
Debbie Stabenow
United States Senator
