Cash for Clunkers: An Evaluation

Ted Gayer and
Ted Gayer
Ted Gayer President - Niskanen Center, Former Executive Vice President - The Brookings Institution
Emily Parker
Emily Parker Research Assistant

October 30, 2013

According to a new paper and policy brief by Ted Gayer and Emily Parker, the Car Allowance Rebate System (CARS) or “cash for clunkers” program, launched during the height of the recession with the intention of stimulating the economy, creating jobs, and reducing emissions, was actually far more expensive per job created than alternative fiscal stimulus programs.