A proposed program would allow car owners to trade in their gas-guzzling clunkers and get a cash incentive towards a new, more efficient car. (Photo by Martin Hans, Courtesy of Wikimedia Commons)
A proposed cash for clunkers program might jump start the auto industry and help the environment at the same time. Tamara Keith reports the idea is getting some traction in Washington DC:
Transcript
A proposed cash for clunkers program might jump start the auto industry and help the environment at the same time. Tamara Keith reports the idea is getting some traction in Washington DC:
The idea is: if you bring in your old gas guzzler, you’d get money to buy a new fuel-efficient car. The gas guzzler? Straight to the junk yard , getting older, smog belching vehicles off the road. John McEleney is the chairman of the national automobile dealers association. He says how much you’d get would be based on how fuel efficient the new car is. For instance, if you bought a car that gets 27 miles to the gallon:
“They might qualify for say a $3500 incentive. If they instead purchased a vehicle that was rated at 33 miles a gallon that incentive could then go to $5000.”
One big question is whether only American-made cars would qualify. That’s one of the issues congress and the white house will have to work out– Oh, along with figuring out where the money would come from. For the Environment Report, I’m Tamara Keith.