Markey: Cash for Clunkers a Success for Economy, Environment - Program Should Continue
FOR IMMEDIATE RELEASE
Contact: Select Committee, 202-225-4012
Cash for Clunkers Should Continue, Says One of The Authors of Original Act
Congress Will Work With Administration to Further Wildly Successful
Program, Says Chairman Markey
WASHINGTON (July 30, 2009) – One of the original authors of the Cash for Clunkers program today pledged to work with the Obama administration to ensure the program continues, after reports have emerged that the $1 billion program may have already approached its funding limit after only four days. The program was first created as part of the Waxman-Markey energy bill, and, after the Obama Administration implemented it in record time, has become one of the most successful stimulus programs of 2009.
“Cash for Clunkers may have run out of cash, but America’s consumers haven’t run out of clunkers. We’re going to work with the Obama administration to keep this wildly successful program going until it reaches its goal of helping consumers take 1 million gas guzzlers off the road,” said Rep. Edward J. Markey (D-Mass.), who co-authored the legislation.
Preliminary statistics show that consumers who have participated in the program have received a 69 percent improvement in miles per gallon average from their trade-in vehicles, and will reap an average annual gasoline savings of $750. These preliminary statistics, from www.CashForClunkersInformation.org, also show that 79 percent of trade-ins are SUVs, trucks and vans with over 100,000 miles and most are being replaced with new passenger cars.
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