US President Barack Obama is scheduled to reveal details of a new program patterned after the successful “Cash for Clunkers” program from last year in Georgia on Tuesday.

Dubbed “Cash for Caulkers“, the new government program will run on an estimated $6 billion budget, and aims to coax Americans to upgrade the quality of their homes – from insulation, energy use and architecture. The program expects that it will generate more construction and manufacturing jobs, improve energy efficiency in homes and provide a feasible opportunity for Americans to perform maintenance on their homes. Estimates forecast that the program should generate around $200 to $500 of energy savings for participating consumers every year.

“The current thinking is that the program would be in the range of $6 billion, and we think that would be an appropriate range for a program of this magnitude,” shared a senior administration official in a report by Reuters. “We would anticipate that in the range of 2 to 3 million households would participate.”

Full details of “Cash for Caulkers” is expected to be disclosed in Savannah, Georgia, Obama’s next stop in his White House to Main Street tour.

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