You might have heard of the new “Cash for Clunkers” bill offering up to $4,500 for purchasing a new car. The motive here is to provoke the demand of new cars and also enhance the overall fuel efficiency.
This can be achieved by promoting the trade of “clunkers” for the more efficient and brand new vehicles. Officially, it is a part of the Consumer Assistance to Recycle and Save (CARS) Act. This Act is recently passed in the House and is in the Senate currently.
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