Cash For Clunkers

Congress is mulling a proposal to pay people to get rid of old gas guzzlers. It's called the "Cash for Clunkers" program.

By: Associated Press | WSAV News 3
Published: January 15, 2009

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Congress is mulling a proposal to pay people to get rid of old gas guzzlers.

It's called the "Cash for Clunkers" program.

Under legislation introduced in both the House and the Senate, drivers could get vouchers of up to $4,500 when they turn in their old fuel-inefficient vehicles for scrapping, and buy vehicles that
get good gas mileage. People could also receive vouchers for use on public transportation.

Sen. Susan Collins, a co-sponsor of the bill, says taking gas guzzlers off the road would reduce dependence on foreign oil, decrease greenhouse gas emissions and stimulate the economy.

The bill envisions the program operating for four years and encouraging the retirement of up to one million vehicles a year. That would save between 40,000 and 80,000 barrels of motor fuel a
day by the end of the fourth year.