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CARS Act revives "Cash for Clunkers" scrapping plan in U.S.

It's rare for the Detroit 3 automakers, the UAW and various politicians to agree on anything meaningful, but that's exactly what appears to be happening after Rep. Betty Sutton of Ohio (D) introduced a bill in Congress called Consumer Assistance to Recycle and Save bill (CARS Act) that revives the so-called "Cash for Clunkers" plan. This bill would offer consumers up to $5,000 to trade in a vehicle that's at least 8 years old in exchange for a new one built in the United States that gets at least 27 mpg if it's a car or 24 mpg if it's a truck ... Read more →

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