WASHINGTON (CNN) – The "Cash for Clunkers" program will continue with a $2 billion supplement that some analysts say could provide a boost of billions of dollars more as it reverberates through the economy.
Critics, however, say the program merely shifts consumer spending from one area to another.
President Barack Obama on Friday morning signed the bill extending the program.
The program provides consumers a cash rebate of up to $4,500 when they turn in older, gas-guzzling vehicles and buy newer, more fuel-efficient ones.
Congress passed the $2 billion expansion after reports that the original $1 billion earmarked for the program would soon run out. According to some estimates, the total of $3 billion in the Cash for Clunkers program could result in an $18 billion boost to the overall economy.