Daily Beast: Senate Republicans cave-in on Cash for Clunkers

Rightardia predicted the GOP would cave in after some frosty rhetoric about the cost of this program. Most politicians do not want to tangle with the National Auto Dealers Association, particularly Republicans who have benefited form its largesse for years.

Drivers still hoping to swap old cars for lump sums have a little more time to get to the dealership: The Senate voted to pony up an additional $2 billion for Cash for Clunkers, the Associated Press reports.

According to President Obama, the program's initial $1 billion, which was supposed to last until October, will run out Friday. The vote to extend the measure (using money formerly set aside to use toward renewable-energy subsidies) will allow the rebates to continue through September.

The program awards rebates of between $3,500 and $4,500 to consumers who trade in old cars for newer, more fuel-efficient ones, aiding consumer spending and allowing nearly a quarter-million Americans to buy new cars. The Clunkers program reported having performed $664 million worth of transactions as of early Tuesday morning.

Read it at Associated Press:
http://e.thedailybeast.com/a/tBKeXttB7SwhTB7ul9b-chc-q0b/dail1
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