Monday, August 10, 2009

Senate Approves $2 Billion Cash For Clunkers

The Senate voted 60-37 to make $2 billion in additional funding available for the popular "Cash-For-Clunkers" program.

Under the program, owners who trade in cars and trucks less than 25 years old that travel fewer than 18 miles per gallon of gas can receive vouchers for the purchase of more fuel-efficient vehicles. A fuel-economy improvement of four to10 miles earns a $3,500 subsidy. An upgrade of more than 10 miles per gallon is worth $4,500. Democrats especially are depending on the continuation of this program to, not only boost the economy, but replace less-efficient vehicles with higher fuel economy models which will reduce oil consumption and air pollution.

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