Absolutely.

It will also NOT accomplish its stated purpos, and therefore should NOT be made law.

-People who drive old cars out of necessity will not be helped, as they can't afford new cars anyway.
-People who drive old cars out of choice will not be helped as they do not want new cars.
-People who have rust buckets in their yards probably don't care
-People who have old cars and are looking for new ones (the target group of this bill) can probably sell their old cars to someone who drives old cars out of necessity or desire for more than the gov't will offer them to scrap the car.

This is not in the interests of any common group of people and therefore should not be law.
It is NOT something that congress should be doing anyway.