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Cash for Clunkers Update: Program May be Refueled to Tune of $2 Billion

July 31, 2009

HispanicBusiness.com Staff

Cash for Clunkers Update: Program Refueled to Tune of $2 Billion



It seems that the almost-spent Cash for Clunkers program is likely to get a huge infusion of government funds. The program, which originally earmarked $1 billion to allow motorists to trade in older, less-efficient cars for up to $4,500 in credit when trading up, is set to get another $2 billion.

According to CNN, the U.S. House of Representatives voted to divert the funds from U.S. Department of Energy program loan guarantee program by a margin of 316-109. The Senate will vote on the measure Monday.


For more coverage on the automotive industry, please see Hispanic Business' Auto Channel



Source: HispanicBusiness.com (c) 2009. All rights reserved.


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