Despite the differences between the multiple Cash for Clunkers bills circulating in the House of Representatives, Democratic members of the House seem to be close to producing a single piece of legislation. Articles from the Detroit News and in Reuters say President Barack Obama met with the House Energy and Commerce Committee to discuss details of the new, unified bill this morning.
According to reports, the new proposal would provide up to $4,500 for individuals looking to replace their older, gas-thirsty cars and trucks for new, more efficient models. The proposed bill defines “clunkers” as vehicles that get 18 mpg or less with more funds available depending on the number of miles on the odometer. So far, there’s no word on whether or not there is an age limit on the vehicles eligible for new car vouchers.
Also missing from the news is whether or not efficient used cars from dealers would be eligible for the vouchers. Despite the omission, legislators say they hope the program will help to spur up to 1 million new car sales upon ratification. Given the executive branch’s storied support of Cash for Clunkers, we can’t see too many more stumbling blocks to the bill becoming law.
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