The United States Senate will vote in the next few hours on a $2 billion extension of the ‘’Cash for Clunkers’’ program, whose popularity was such that the initial funds of $1 billion were all spent in only a week.
In order for the program to continue until November 1, 2009, as originally proposed, additional money is necessary.
Michigan Senator Debbie Stabenow told Bloomberg TV that “this will probably be the last infusion of dollars.” Cash for Clunkers has definitively fulfilled its mission, she said.
“This has been incredibly successful and it really goes right to the heart of creating demand. People can buy a car they really need, inventories drop and manufacturers have to build more fuel-efficient cars, which creates jobs.”
Republican senators tried to pass seven amendments to the new bill, but the Democratic majority refused to include them. “We have agreed to certain propositions, but we first got to approve the extension,” added Mrs. Stabenow.
photo:Jupiter images
In order for the program to continue until November 1, 2009, as originally proposed, additional money is necessary.
Michigan Senator Debbie Stabenow told Bloomberg TV that “this will probably be the last infusion of dollars.” Cash for Clunkers has definitively fulfilled its mission, she said.
“This has been incredibly successful and it really goes right to the heart of creating demand. People can buy a car they really need, inventories drop and manufacturers have to build more fuel-efficient cars, which creates jobs.”
Republican senators tried to pass seven amendments to the new bill, but the Democratic majority refused to include them. “We have agreed to certain propositions, but we first got to approve the extension,” added Mrs. Stabenow.
photo:Jupiter images