House narrowly passes scaled-back 'Cash-for-Clunkers' legislation
Per the previous agreement, the new bill only contains $1 billion for the program, about a quarter of what was originally proposed, and will only extend through the 2010 fiscal year, ending on September 30.
The $3,500 and $4,500 vouchers for consumers remain intact, along with the 18 mpg provision, and there's a movement underfoot to get the legislation prolonged passed the 2010 fiscal year. The Senate is expected to vote on the bill soon and, if all goes well, it should land on the President's desk this week.
[Source: Automotive News – Sub. Req. | Image: Theo Heimann/Getty]
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