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Cash-for-Clunkers bill hot topic of discussion for Senate leaders

2009-08-05 20:54:15 (GMT) (Caymanmama.com - Automotive News)

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U.S. Senate

San Antonio, Texas (CaymanMama.com) — Top Senate leaders announced Tuesday that a vote would be held this week to decide on a $2 billion extension of the nation’s Cash-for-Clunkers program.

“What I anticipate is that it will be completed before the end of the week,” Senate Minority Leader Mitch McConnell told the press. “What we’ll be negotiating over is the appropriateness of some amendments to the bill, but I would anticipate that the matter will be completed some time before the end of the week.”

In another discussion with reporters, Reid said: “We’ll pass Cash-for-Clunkers … before we leave here” for the Senate’s annual August break.

President Barack Obama’s economic recovery package included the Cash-for-Clunkers program which will give people up to $4,500 in trade money for their older-model vehicles which suffer from low fuel efficiency in order to get a newer model vehicle with better gas mileage.

According to CNN.com, “It was intended to run until the fall, but higher-than-expected participation caused the government to warn last week the program would run out of money without an infusion from Congress.”



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