The U.S. Senate approved a measure to extend the CARS program (“Cash for Clunkers”) by $2 billion late last week in a 60 to 37 vote.  This, after the sweeping success of the initial nearly $1 billion allocation surprised not only critics, dealers and consumers, but even White House officials.  Just five days after officially launching the program aimed to incentivize car sales as well as edge gas-guzzlers off road, funds were already running low. 

Congress, on rush-order, reviewed an emergency extension to refuel the cash-for-clunkering for another another $2 billion and passed the extension before the Capitol Hill bell released them for August recess. The legislation moved to the Senate, where it was anticipated to meet some resistance from opposition.

But life in the fast lane has taken a unique toll on dealerships.  Dealers are reportedly running out of Cars for Clunker-eligible vehicles on their lots.  After months of downsizing, the news is not unwelcome; however, dealers will now have to figure out how to meet the demands of the highly-successful program.

 

Related Resources:

  • Senate OKs more cash for ‘clunkers’ (Los Angeles Times)
  • “Cash For Clunkers” Gets A $2 Billion Boost (New York Times)
  • Cash For Clunkers, Game On (FindLaw’s Law & Daily Life)
  • Cash for Clunkers, Game Over? (FindLaw’s Law & Daily Life)
  • ‘Cash for Clunkers’ Scams Abound (FindLaw’s Common Law)

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