I don't think this bill is going to accomplish anything, most people that drive a clunker do so because they can't afford a new car or think new cars are a waste of $ period.

$4,500 isn't going to cover a $400+/month increase in monthly expenses for those people for 5yrs+

I think a few with $ or those on the fence about purchasing a new car will take advantage of this, but that's about it.

The clunker must also be registered and insured in your name for 1yr prior to being eligible.

They've also placed limits on the number of vouchers for cars vs large trucks that can take advantage of this deal. I guess once they're gone, they're gone.

On the truck side, improving 5mpg while being able to replace your "clunker" with something of equal towing ability isn't happening. My 99' 3/4 ton is rated at 14 combined so I'd need 19 combined which puts you in a 4cyl Ranger. Maybe older trucks fair worse on combined MPG, not sure.