The U.S. Senate has agreed to refuel the “Cash for Clunkers” program as Senators approved a $2 billion injection of cash into the program, just as the popular rebates were about to run out.
The vote gives consumers a chance to take advantage of the rebates of up to $4,500 until Labor Day on a new fuel efficient vehicle. Government officials say that more than $775 million of the existing $1 billion fund has already been spent.
Montana Senator Jon Tester says the program has been a big benefit for Montana. “This deal was a success. It’s worked. It’s popular among Montanans and it’s helped our dealerships across Montana and it is a program that should be extended.”
President Obama commended the Senate for taking quick action to extend the program. The House voted last week to keep the rebates running.