The proposal, co-sponsored by Maine Sen. Susan Collins, is called the ":Cash for Clunkers": program.
Under legislation introduced yesterday in both the House and the Senate, drivers could get vouchers of up to $4,500 when they turn in their old fuel-inefficient vehicles for scrapping and buy vehicles that get good gas mileage. People could also receive vouchers for use on public transportation.
Collins says taking gas guzzlers off the road would reduce dependence on foreign oil, decrease greenhouse gas emissions and stimulate the economy.
The bill envisions the program operating for four years and encouraging the retirement of up to one million vehicles a year.
That would save between 40,000 and 80,000 barrels of motor fuel a day by the end of the fourth year.