It's a great idea and no doubt one that will be in place in a matter of time. According to reports however, the proposal could cost around $2.7 billion to manufacturers to supply all cars with the technology. It isn't such a big deal though as it is impossible to put a price on someone's life, or someone else's or your child's life.
According to NHTSA research, around 292 people die every year due to reversing-related accidents, and the majority of those involved are children and the elderly.
The proposal is currently open to discussion and will accept comments for 60 days. The final rule change will then be set by February 28, 2011.
To help manufacturers and suppliers deal with the changes, 10 percent of new vehicles must comply with the rules by September 2012, 40 percent by September 2013, and then finally, 100 percent of new cars by September 2014.