Oberstar Supports "Cash for Clunkers"

Legislation to provide tax rebates for purchasing new fuel efficient cars and trucks has passed the U.S. House of Representatives. The legislation, also known as Cash for Clunkers, will give consumers vouchers of up to $4,500 to trade-in older gas guzzling vehicles.

Congressman Jim Oberstar supported the bill because it accomplishes three key goals: reduce greenhouse gases, decreases dependence on foreign oil and saves jobs in the struggling auto industry. Oberstar says e can improve the environment and stimulate the economy at the same time.

The Department of Energy estimates that a motorist driving 15,000 miles a year, purchasing gas at $2.34 a gallon would save $780 a year by switching from a car getting 18 miles per gallon to one getting 30.

A similar bill has been introduced in the Senate and referred to committee for further consideration.