Entry bubble Cash for Clunkers?

By: Jake | April 27, 2009 | Category: Money

CarIt was a year ago this week that my car wouldn't start. My reliable car had become an unreliable clunker about a year before this and it finally decided to die. As a clunker it wasn't valuable for a trade in, so I waited for its final trip, called a charity company to haul it away and bought a new one.

If you want to get rid of a clunker, especially one that's a gas guzzler, the Accelerated Retirement of Inefficient Vehicles Act (ARIVA), known as the "Cash for Clunkers" bill, may provide you with another solution. It needs to be passed by the U.S. Congress and signed by the President first, but it would allow you to trade in your older, less fuel efficient car, truck or SUV for a cash voucher that you can use to buy a more energy efficient car. You could also redeem that voucher for transit fares with participating local public transportation agencies.

The last major action on the bill was in January when it was referred to the House of Representatives Committee on Energy and Commerce, but there was some news about it last week.

What do you think of the "Cash for Clunkers" bill?

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