$2 Billion more approved for Cash for Clunkers
Maybe this “infusion of cash” will allow the Cash for Clunkers program last two weeks this time? From CNN:
The House on Friday passed a bill to allocate another $2 billion to the Cash for Clunkers program.
The move came after reports on Thursday had raised concerns that the program was out of money.
The bill which diverts $2 billion from a U.S. Department of Energy program loan guarantee program, passed 316-109. The bill will face tough opposition in the Senate which is not expected to vote before Monday.
“I’m pleased about the progress made in the House today about the cash for clunkers program,” said President Obama, in a speech immediately following the vote.
The fate of the $1 billion trade-in program was thrown into question Thursday over concerns that it may have already burned through its funds less than a week after it was officially launched.
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