quorum call:

the presiding officer: the senator from michigan. mr. levin: mr. president, i ask unanimous consent that further proceedings under the quorum call be dispensed with. the presiding officer: without objection, so ordered. mr. levin: mr. president, what is the time agreement? the presiding officer: the majority has 36 minutes remaining. mr. levin: i would ask unanimous consent that i be yielded four minutes. the presiding officer: is there objection? without objection, so ordered. mr. levin: mr. president, one way to stimulate a key party of our economy, the auto sales, is

to establish a cash for clunkers program that would provide a voucher for those with conscious -- for new vehicles. it will allow people to purchase new fuel-efficient vehicles and both stimulate the sale of new vehicles and reduce overall fuel consumption and greenhouse gas emissions at the same time by providing incentives for the purchase of new more fuel-efficient vehicles, this will provide a much-needed boost to the auto industry including manufacturers, dealers, suppliers and other related industry. there's strong evidence that this type of program works. nearly every major industrialized country in the world with an auto industry now has some kind of vehicle scrappage program in place, and there is documented evidence of increased sales. germany has seen an increase in new sales up from 25% to 40% since its program was implemented earlier this year.

china saw an increase in new vehicle sales of 15% in march after its program was implemented. france has seen an increase in vehicle sales of 8% since its program was implemented at the end of 2008. other countries, such as japan and korea, have more recently followed suit and implemented programs like this. mr. president, the compromise before the senate provides a well-crafted and balanced fleet modernization program. it will accelerate national economic recovery by stimulating up to an estimated one million new vehicle sales while at the same time pushing consumers towards purchase of more fuel-efficient vehicles. this legislation is based upon months of work to develop a compromise among the administration, the companies, the environmental organizations and auto dealers. it provides a reasonable compromise and establishes a solid program that will give consumers with older vehicles an immediate cash incentive to

purchase new, more fuel-efficient cars and trucks. and by including a hierarchy of cash vouchers of new vehicles that increases the amount available for the most fuel-efficient new vehicles, this legislation will stimulate the economy and encourage consumers to purchase more fuel-efficient vehicles. the legislation strikes an appropriate balance between economic stimulus and fuel efficiency. the proposal keeps the focus on priet marry purpose of this effort, which is to stimulate the u.s. economy by providing an incentive for individuals to turn in their older, less fuel-efficient vehicles, and to purchase a new fuel-efficient vehicle. but, again, it provides the proper balance. because it encourages consumers to purchase more fuel-efficient vehicles by including a hierarchy of incentives that offers a greater amount for a more fuel-efficient vehicle. stimulating vehicle sales while

also getting older, less fuel-efficient vehicles off the road is surely an important national goal. i would ask unanimous consent that the balance of my statement be inserted in the record. the presiding officer: without objection. mr. levin: i yield the floor. a senator: mr. president? the presiding officer: the senator from hawaii. mr. inouye: i wish to associate myself with the remarks made by the senator from michigan. the presiding officer: without objection, so ordered. the clerk will call the roll.