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Thursday, September 2, 2010   88º

Updated 08/03/2009 05:17 AM

"Cash for Clunkers" Program Being Reviewed

By: Veronica R. Chiesi

"Cash for Clunkers" Program Being Reviewed
It only took one week for the “Cash for Clunkers” program to run out of money. The House approved an additional $2 billion Friday to keep the initiative alive.

The bill passed easily on a vote of 316 to 109.

Lawmakers acted within hours of learning that the program was running out of money.

President Barack Obama applauded the vote saying the program succeeded well beyond expectations.

The Senate will take up additional funding next week.

The program offers owners of old cars and trucks as much as $4,500 toward a new, more fuel-efficient vehicle, in exchange for scrapping their old vehicle.