Yesterday, the U.S. House of Representatives just voted in favor of a war-spending bill that contains the hotly debated Cash for Clunkers amendment. The bill was on its way to the Senate for a vote, but Republican Senator Judd Gregg tried to get the Cash for Clunkers program stripped from the bill that would continue funding the military efforts in Iraq and Afghanistan. That effort was quashed today when the Senate voted 60-36 to keep the $1 billion Cash for Clunkers bill attached to the $106 billion war-spending bill.
The Cash for Clunkers program will allow anyone to trade in a vehicle that gets 18 mpg or less in exchange for a $3,500 voucher towards the purchase of a new car that gets at least 22 mpg. The voucher increases to a maximum of $4,500 if the new car gets at least 10 mpg more than the clunker being traded in. Truck owners will get $3,500 for trading in and buying a new truck or SUV that is 2 mpg more fuel efficient and $4,500 for one that's at least 5 mpg better.
The Senate could vote on the war-spending bill that contains provisions for the Cash for Clunkers program as early as tonight, so stay tuned.
[Source: Boston Herald | Image: Theo Heimann/Getty]