The bill, giving an income tax credit to those who purchase new autos, was shepherded by Senator Barbara Mikulski, whose office estimated the cost at $11 billion over the next decade. The bill applies retroactively to those who bought cars between November 12 and December 31, to the first $49,500 of the new car’s price tag. Even those who don’t itemize their tax returns for deductions can qualify, up to income of $125,000 for individuals and $250,000 for married couples. For a $25,000 car, the savings would be $1,553.

Senator Charles Grassley of Iowa attempted to block the bill, criticizing it for encouraging consumer debt during a recession and mentioning other aspects of the stimulus bill which help the auto industry.