You know that clunker that is sitting in your backyard, taking up space (and dripping various car fluids) in your driveway, or cluttering up your garage? Well, let us just say that Congress would not only help you get rid of it, but they would pay you for it in the bargain — would you take advantage of that?

Because not only is it happening, there is talk of having the unique, one of a kind cash for gas guzzlers program extended to early fall, as long as the program which is currently in place ends up being successful.

The program has an amazing one billion dollars worth of funding, in the hopes of covering about two hundred and fifty thousand gas guzzling clunker vehicles. The program will begin officially within the next thirty days or so.

Good news for Americans who have gas guzzling vehicles they are eager to get rid of, but who may not be able to afford a trade in. The House of Representatives has just approved new legislation known as “cash for clunkers.” It may allow people buying a new car to receive an incentive of up to $4,500 if they will trade in a gas guzzling vehicle for a more fuel efficient one.

There are some strings, of course — aren’t their always? For instance, to qualify for the trade in, a vehicle has to be rated at eighteen miles per gallon and absolutely no more than that. However, that is good new for people who own vans, trucks, or SUVs. If a vehicle gets four miles per gallon more, at least, the owner will get a $3,500 voucher. For cars that get ten miles per gallon more, owners are eligible for an additional thousand dollars.