Are you stuck with a gas-thirsty car or truck and want something a little more economical? The federal government may have good news for you. According to Autoblog, President Barack Obama just signed new Cash for Clunkers bill into law. Under the legislation, any vehicle less than 25 years old may be turned in for a credit voucher of up to $4,500 so long as the replacement gets 5 mpg better if it’s a truck, 10 mpg better if is a car.

Congress has been batting around different versions of the legislation for about a month now. The final version of the bill was attached to a larger defense spending bill that was all but guaranteed to pass. The government and carmakers are hoping the program will help spur stagnant car sales and take a decent chunk of polluting, over-consuming cars and trucks off of the road.

The Department of Transportation has 30 days to organize the rules surrounding the program, which means you may be able to apply that $4,500 credit toward the purchase or lease of a new vehicle by the end of next month. [Source: Autoblog]