House Speaker Nancy Pelosi recently introduced legislation that would see drivers of older vehicles paid to get rid of them in favor of newer, more fuel-efficient vehicles. The amount received would depend on the year of the car being traded in but could be as high as $4,500. The cash comes in the form of a voucher can be used to purchase a vehicle build later than 2004 and has an superior EPA fuel mileage rating of 25% or more than industry average for its class. There will also be an option to get a voucher usable towards mass transit.

The idea behind the legislation is that it would accelerate the rate of turnover from less efficient to more efficient cars while simultaneously giving the auto industry a boost with all the government discounts for purchasing environmentally friendly vehicles.

The plan would reportedly cost up to $2 billion each year and would result in a turnover rate of about a million cars each year.