Legislation passed on tuesday, 298 to 119 votes, passd in the house. The bill calls for 4 billion dollars to be allocated to the purchasing of about 1 million new vehicles.
The deal is, trade in your old car and buy a new one with better fuel efficiency and you are eligible to receive 4500 bucks from the U.S. government!
The hope is that the purchasing of a million new vehicles will help jumpstart the decaying U.S. auto industry. It will produce jobs and reduce layoffs, as well as save an estimated 250+ million gallons of gasoline.
The bill would also have to pass through the Senate, and then be approved by President Obama in order to take effect.
That's the Scoop.
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