SEMA (the Specialty Equipment Market Association), issued a statement this afternoon announcing the Cash for Clunkers program has been withdrawn from consideration as part of the government stimulus program. Such a program would have been detrimental to the automotive aftermarket and restoration industry.

"We are equally pleased that the Senate voted to include a SEMA-supported amendment to the bill allowing taxpayers to claim a tax deduction for car-loan interest payments and excise taxes when they buy a new car in 2009," the prepared statement read. "We applaud lawmakers for spending taxpayer money wisely rather than wasting dollars on programs that do not spur car sales, reduce emissions or increase fuel efficiency.

SEMA (the Specialty Equipment Market Association), issued a statement this afternoon announcing the Cash for Clunkers program has been withdrawn from consideration as part of the government stimulus program. Such a program would have been detrimental to the automotive aftermarket and restoration industry.

"We are equally pleased that the Senate voted to include a SEMA-supported amendment to the bill allowing taxpayers to claim a tax deduction for car-loan interest payments and excise taxes when they buy a new car in 2009," the prepared statement read. "We applaud lawmakers for spending taxpayer money wisely rather than wasting dollars on programs that do not spur car sales, reduce emissions or increase fuel efficiency.

"SEMA looks forward to working with the House and Senate and all stakeholders on sound economic solutions to the current recession."

The Cash for Clunkers program accelerated the demise of vehicles through the purchase of older cars, which are then typically crushed into blocks of sheet metal. The Clunker programs focused on a car's age rather than its emissions, based on the assumption that all older cars are environmentally unfriendly.

"SEMA continues to believe that a Cash for Clunkers program would, for no proven gain, hurt thousands of independent repair shops, auto restorers, customizers and their customers across the country that depend on the used car market," the statement further offered. "The automotive specialty aftermarket provides thousands of American jobs and generates millions of dollars in local, state and federal tax revenues."