$$ Maker: Government Hopes "Cash For Clunkers" Will Rev Up Sputtering Auto Industry

The Federal government's incentive program to help bolster the country's ailing auto industry goes into effect today.

The so-called "Cash for Clunkers" program offers rebates to owners of certain vehicles if they meet certain requirements and buy a new, more fuel efficient vehicle.

Congress' $1B dollar initiative is designed to jump-start sagging auto sales while also promoting a greener environment. Consumers can get up to forty five hundred dollars OFF the purchase or lease of a new fuel efficient vehicle when they trade in their old gas guzzler.

The government will post even more details today on its website - CARS.GOV.

Some critics say the program will only generate about $250K dollars in sales. Consumers will have until November 1st to take advantage of the deal or until the federal funds run out.