Thursday’s announcement by President Obama of the Chrysler bankruptcy also revealed his renewed support for the ‘Cash for Clunkers’ bill.  The president revisited the plan to give cash incentives to new car buyers who trade in a gas guzzling clunker.  The original intent of the credit was to encourage the purchase of fuel efficient vehicles, while reducing the number of emissions of heavy clunkers on the highway.  The plan is now seen as a means to also aid floundering automakers.  Credits would range from $1,500 to $5,000 toward the purchase of a car getting 27.5 miles per gallon, or a truck getting over 23.1 mpg.  No word on how long you need to own the clunker to get the credit.

via: money.cnn.com