Cash For Clunkers Back On Track

Posted on August 07, 2009, 10:34 am
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Americans are going to get more time to trade in their clunkers for cash.

President Barack Obama signed into law and extension of the stimulus program that was so popular it ran out of money, $1 billion. The Senate voted on the state to triple the Cash for Clunkers fund to $3 billion, extending the program to Labor Day, assuming the new money lasts that long. It will give owners – $3,500, or $4,500, in terms of the card they are trading in, if they trade in the old car for one that uses less gas, a more fuel efficient vehicles.

Many car dealers’ inventories nationwide have practically been wiped out. A great number of experts believe the program an its extention will have a role in pushing th economy out of recession. Others are afraid that the spending power of the American public has been shifted to the auto industry, away from say retail and services.

 

Jonas Bronck is the pseudonym under which we publish and manage the content and operations of The Bronx Daily.™ / Bronx.com - the largest daily news publication in the borough of "the" Bronx with over 1.5 million annual readers. Publishing under the alias Jonas Bronck is our humble way of paying tribute to the person, whose name lives on in the name of our beloved borough.