How would you like to get rid of your old gas guzzler and receive up to $4,500.00 toward a new, more economical, vehicle?
According to Green Car Congress US Senators Dianne Feinstein (D-CA), Susan Collins (R-ME), and Charles Schumer (D-NY) have introduced a measure in the Senate and House to do just that. The bill is called The Accelerated Retirement of Inefficient Vehicles Act of 2009 (ARIVA) and is also known as "Cash for Clunkers." If passed, a voucher could be used toward the purchase of a 2004 or later model year car for less than $45,000.00, provided its fuel economy rating exceeds the CAFE target for its class by 25%. It is proposed that the voucher can also be redeemed for transit fares for participating local public transportation agencies. The program is suggested to run for four years in an effort to remove 1 million gas guzzlers from US roads.
So hold on to those worthless gas guzzlers and stay tuned to see if ARIVA becomes law.
