U.S. Sen. Jim Webb of Virginia wants the federal government to give motorists a financial reward if they trade in their old automobiles.
Anyone trading in a vehicle that’s at least five years old would get a voucher worth $4,000 toward the purchase of a new one, or $3,000 to buy a used vehicle that is less than three years old, under legislation that Webb introduced Thursday.
The senator said the proposal is intended to protect jobs and revive the car market.
“With more than 3 million jobs tied to the viability of the automobile industry… this amendment would boost auto sales, help save American jobs, and make car purchasing more practical for more Americans,” Webb said.
The legislation is an amendment to H R 1256, the FDA tobacco regulation bill.
