Filed under: Legislation and Policy , USA A bill was introduced in the Senate earlier this month that seeks to offer a $10,000 incentive for low-income families to trade in their old cars for newer, more fuel efficient models. First, a few details: eligible individuals are those who earn less than $25K per year (or $40K for families). Eligible automobiles include those made by manufacturers with US operations that have assembled autos in the US throughout the last 20 years; are rated at 25 miles per gallon or better and are at least 4.9 mpg better than the car that’s being traded in. Eligible trade-ins must run, must be at least 10 years old and must be registered in the name of the eligible individual. Trade-ins would be destroyed at the cost of the government. Got that? We have no expectation that this bill will be passed, but it’s interesting to take a look at nonetheless. We’ve pasted Senate Bill 3737 in its entirety after the break for your reading enjoyment. [Source: The Library of Congress ] Continue reading “Sell Fuel Efficient Cars Act of 2008″ introduced in Senate “Sell Fuel Efficient Cars Act of 2008″ introduced in Senate originally appeared on AutoblogGreen on Sun, 28 Dec 2008 17:29:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments