US House approves vouchers for efficient carsPosted June 09
In an attempt to improve vehicle fuel economy across the entire country, the US House of Representatives have approved a bill to provide vouchers of up to $4,500 for customers to trade in their old cars and buy new fuel-efficient cars.
The bill was approved by 298 votes against 119 and would require four billion dollars to be allocated to the program. The bill is expected to encourage the purchase of one million new vehicles and would run for one year. New vehicles must have a better fuel economy than the cars being traded in. The bill should see a rise in the national average vehicle fuel economy.
House Speaker Nancy Pelosi said, "this bill is quite a remarkable piece of legislation and the timing is perfect. And when they trade in these cars, they will strengthen America's auto industry, creating jobs and reducing layoffs and save more than 250 million gallons of gas."
There's quite a way to go yet though. The bill now lies in the hands of the US Senate, who must also approve it. Finally the vehicle fuel economy bill would be sent to President Barack Obama for his signature to become law.
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