Press Release of U.S. Senator Barbara Boxer
| For Immediate Release: August 6, 2009 | Contact: Washington D.C. Office (202) 224-3553 |
Boxer Praises Extension of Successful "Cash for Clunkers" Program
Washington, DC – The U.S. Senate today voted to extend the highly-successful “Cash for Clunkers” program, which gives consumers a $3,500 or $4,500 rebate for trading in their old, gas-guzzling vehicles for new, fuel-efficient ones.
Congress originally appropriated $1 billion in funding for the program, which was expected to last for four months. But more than 75 percent of that funding has already been used since the program launched on July 24, 2009. The Senate’s action today will provide an additional $2 billion in already-approved funds to extend the program.
Senator Boxer said, “The facts show that the Cash for Clunkers program is working better than any of us expected. The average increase in fuel economy for new models bought under this program is almost 10 miles per gallon.”
It has been estimated that 250,000 gas-guzzling cars and trucks have already been turned in through the program.
The average fuel economy of new vehicles purchased under the program is 25.3 miles per gallon (mpg) – a 9.6 mpg increase over the trade-ins. It is estimated that this will save families $700 to $1,000 a year at the gas pump. As of August 5, 2009, car dealerships throughout California had submitted nearly $40 million in rebates.
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