Congress Considering Cash for Clunkers Bill

Congress appears to be close to agreement on a long debated Cash For Clunkers bill that includes a provision for reimbursing owners of 'klunkers' or 'guzzlers' for trading them in for more fuel efficient vehicles.

The traded vehicle must be:
+ driveable,
+ registered in the US,
+ have a fuel economy rating of less than 18 miles per gallon at the time of their purchase.

The purchased vehicle must:
+ get at least 22 mpg for cars and 18 mpg for small trucks,
+ be at least 25 percent more fuel efficient than the traded vehicle,
+ be a model year 2004 or later,
+ have an MSRP of less than $45,000.

The reimbursement vouchers would be for:
+ $3,500 if the mileage improvement is at least
-- 4 m.p.g. for a car
-- 2 mpg for a small truck.
+ $4,500 if the mileage improvement is at least
-- 10 m.p.g. for a car
-- 5 mpg for a small truck