The House approved another $2 billion for the Cash for Clunkers program—which offers rebates for turning in gas guzzlers for more fuel efficient cars—reports CNNMoney.
There was concern that the $1 billion set aside to fund the rebate program has already been used up, due to the popularity of the bill that officially opened last week.
About 40,000 car sales have been filed through the program, but an estimated 200,000 might be pending.
The current bill, which still needs to pass Senate scrutiny, redirects money from a U.S. Department of Energy loan-guarantee program that would have researched innovation in renewable energy technology.
Source:
Star Community Newspapers: House Approves $2 Billion More For Cash For Clunkers Program
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