House OKs $2 billion for 'clunkers' program
An additional $2 billion was approved by House lawmakers Friday to go toward the "cash for clunkers" program at car dealerships. The "cash for clunkers" program was designed to be an incentive for drivers
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Aug 1, 2009, 2:03 AM
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Updated 5,842 days ago
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An additional $2 billion was approved by House lawmakers Friday to go toward the "cash for clunkers" program at car dealerships.
The "cash for clunkers" program was designed to be an incentive for drivers to trade in their gas-guzzlers. Trade-in rebates can reach up to $4,500.
Some dealers say they have run out of cash for the program despite qualifying only one applicant for the deal. Others are experiencing technical problems with processing applications.
The Senate is expected to approve the $2 billion deal next week.
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