Revving the economy will take creativity, and a cash for clunkers program fits the bill.

The U.S. House Tuesday approved the Consumer Assistance to Recycle and Save Act, known as the cash for clunkers program. The legislation is intended to boost auto sales and save jobs by providing cash incentives for drivers to exchange their old gas guzzlers for new vehicles with better gas mileage. A similar bill is moving through the U.S. Senate.

The House bill would provide vouchers worth $3,500 if car owners traded in a vehicle getting 18 miles per gallon or less for one getting at least 22 mpg. The value of the voucher would grow to $4,500 if the mileage of the new car is 10 mpg higher than the old vehicle. A similar approach is taken with sport utility vehicles, pickups and minivans.

The program would achieve multiple goals that are important to our nation’s recovery from this recession. The legislation would help the nation reduce greenhouse gases, decrease the country’s dependence on foreign oil and save jobs in the struggling auto industry.

In addition, the program would help drivers save money at the gas pumps. The Department of Energy estimates that a motorist driving 15,000 miles a year, purchasing gas at $2.34 a gallon, would save $780 a year by switching from a car getting 18 miles per gallon to one that gets 30 mpg.

And while we agree that the program makes sense, it won’t play a role in some American’s lives, should it become reality. People who have already lost their jobs likely see no way to finance a new car, regardless of the incentives.

We also believe that including an incentive for purchasing used vehicles may have been a good way to encourage Americans to trade in their very old cars for a more fuel efficient used car.

The cash for clunkers idea is a good example of how our nation can jerk ourselves out of this recession while still meeting goals important to our nation.