Cash For Clunkers: Additional $2B Approved By Senate

cash-clunkers

Obama’s Cash For Clunker program, which allows consumers to turn in cars that receive 18mpg or less for a $4500 rebate towards a new, more fuel efficient vehicle, burned through its original $1 Billion cash infusion faster than a drunk in Vegas.
No worries to all you low-mpg drivers though, the Senate just approved a $2 billion extension to keep the program going.
So far, an impressive 220,000 vehicles have been turned in, amounting to right around $923 millions in rebates.