Cash For Clunkers and Climate Change Bill Close to Passage

Make that rusted hulk worth something

A little while back, we talked about President Obama’s plan for the “Cash For Clunkers” program. It appeared to be a promising plan to spur new car sales by enabling car dealerships to take in older cars at better trade value. Better economically, better environmentally in that it promotes getting rid of old, non-green vehicles. A cash advance for and credit repair with Mother N ature, so to speak.

Now Cash For Clunkers is more than an early-stage plan. ABC News’ Jake Tapper and Sunlen Miller report that President Obama held a private meeting with Democratic members of the House Energy and Commerce Committee. While working on the ins and out of “cap and trade” environmental legislation, key progress was made on the vehicle trade-in legislation.

Rust buckets for vouchers

Under the newly modified agreement, consumers can trade in any vehicle that gets 18 miles per gallon or less. They’ll receive a voucher for a new, more fuel-efficient car. The amount of the voucher will range from $3,500 to $4,500, depending upon the new vehicle’s fuel efficiency. ... click here to read the rest of the article titled "Cash For Clunkers and Climate Change Bill Close to Passage"