Cash for Clunkers to get additional $2 billion in funds

When the US government approved the $950 million budget for the Car Allowance Rebate System – or as it’s more popularly known, the Cash for Clunkers program - it had hoped that the money allocated would be enough to last until November. As it turns out, it might not even make it to August.

As a result of the unprecedented turnout for the CFC program, the U.S. House of Representatives voted 316 to 109 in favor of H.R. 3435, a bill that would give the CFC program with an additional $2 billion.

It was only last Monday when the program officially began and the response was unlike anything anybody ever expected. A couple of days into it, the government’s $950 million budget is dangerously close to being blown away by eager Americans who have taken advantage of this program.