WASHINGTON (CNNMoney.com) - The Senate on Thursday passed a $1 billion effort to subsidize new auto sales by giving vouchers toward the purchase of new cars.
President Barack Obama is expected to sign the bill.
The "cash for clunkers" measure was attached to the $106 billion war spending bill that was approved by the Senate late Thursday. It drew some opposition from lawmakers who were opposed to spending more money on the auto industry.
The measure would give consumers vouchers worth as much as $4,500 to turn in gas guzzlers and buy new cars that are more fuel efficient.
I know many people with clunker, they can have mine.
LIttle good this will do. For the car dealers it will be gravy topped on thir already topping of cas rebates. Whatever money the Government will be figured into the price of the automobile. No consumer will gain anything but the feeling of being a moron.
My hard earned tax dollars are helping some rich guy buy a new car???
Obama is an epic failure of a president.
I'm going to the junkyard and buying something for $100. Then I'm going to turn it in for $4000. LIFE IS GOOD!!!
I guess the price of "gas guzzlers" from the junkyards will go up now. I know I would buy one for a thousand dollars or so if I wanted to buy a new car and needed a trade-in to get a $4,500 discount.
Has anybody defined clunker? I might be a customer for the $4500!!