Democratic power broker Henry Waxman said after talks with President Barack Obama at the White House that his key House of Representatives committee would push "cash for clunkers" legislation.

"One issue that has been resolved, it's called: cash for clunkers. It will allow people to take their old cars and trade them in for money that can be used for a more fuel efficient and newer car," Waxman said.

Waxman, the House Energy and Commerce Committee chairman, spoke after Democratic panel members met Obama at the White House to discuss the president's plans for energy and healthcare reform.

Lawmakers said the move could potentially see hundreds of thousands of old cars taken off the roads in favor of more fuel efficient vehicles in what would be a boost for the ailing US auto industry.

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