The Senate has reached a deal on saving the “Cash for Clunkers” program late Wednesday, agreeing to vote on a plan that is going to add $2 billion to the federal Cars Allowance Rebate System and will give new car buyers until Labor Day to trade in their clunkers for new vehicles.
Senate Majority Leader Harry Reid said Democrats and Republicans agreed to vote on the plan Thursday, along with a series of potential changes to the bill. He said Democrats have enough votes to approve the bill and reject any changes that would cause a delay in the $4,500 rebates of the program.
Any changes to the bill would require another vote by the House, which wouldn’t take place until the House returns in September from a monthlong recess.
– By: Omar Rana
Source: New York Times