More money sought for car incentives
POSTED: Monday, August 3, 2009 - 7:29am
UPDATED: Thursday, June 3, 2010 - 11:58pm
The senate is set to decide the fate of the so called "Cash for Clunkers" program this week before they head off to summer break.
The House of Representatives voted to rush two billion dollars in additional funds into the program on Friday.
The car allowance rebate system provides federal subsidies of $3,500 to $4,500 to car and truck owners who trade in their clunkers for new vehicles that are more fuel-efficient.
It's been so popular that the incentive fund was set to run out within just a few weeks. Dealers in our area say it's been a huge boost for sales.