Washington, DC - Today, Rep. Bruce Braley (D-Iowa) announced that a compromise has been reached between the White House and Congress to include a "Cash for Clunkers" program in the American Clean Energy and Security (ACES) Act.  Braley received the news while visiting the White House this morning with other members of the House Energy and Commerce Committee, which is considering the energy legislation.

In March, Braley introduced the Consumer Assistance to Recycle and Save (CARS) Act with Reps. Betty Sutton (D-OH) and Candice Miller (R-MI).  The bill created a "Cash for Clunkers" program that would take older, gas-guzzling vehicles off the road and spur new car sales by providing consumers with a $3,000 to $7,500 incentive to buy more fuel-efficient cars or trucks.  The CARS Act provided graduated incentives based on greater fuel efficiency.

"The ‘Cash for Clunkers' concept will help boost our economy, save families money, and decrease our dependence on foreign oil," Braley said.  "By including this compromise in the new energy bill, we can accomplish many goals at once: consumers will get a break to purchase more fuel-efficient vehicles; we will all benefit from a reduction of greenhouse gases; and we will save American jobs by jumpstarting the auto industry.

"‘Cash for Clunkers' is a common-sense idea that can have a big impact on the economy.  I'm glad to see this idea moving forward."

Today's compromise would provide consumers with incentives of $3,500 or $4,500 based on the fuel efficiency of the old vehicle and the fuel efficiency of the new model.  A summary of the compromise is attached to this message.

Braley wrote a guest editorial in today's Des Moines Register urging action on the CARS Act and the "Cash for Clunkers" concept.  It can be viewed at:  http://www.desmoinesregister.com/apps/pbcs.dll/article?AID=2009905050306