The Senate has cleared the way for a vote extending the “cash-for-clunkers” program, which offers car buyers rebates of up to $4,500 for trading in their gas-guzzlers for new, higher-mileage models, setting aside Republican opposition to the plan.
Senate Majority Leader Harry Reid said he had the votes to pass a $2 billion extension already approved by the House. The funding would triple the cost of $1 billion rebate program and give as many as a half-million more Americans the chance to grab the new car incentives through September.
Many Republicans oppose the plan but Senate Minority Leader Mitch McConnell, R-Ky., predicted his party would not block a vote.
“The matter will be completed,” McConnell said.
Lawmakers hoped for a vote late today or Thursday.
Senate passage would send the legislation to the White House for President Barack Obama’s signature and assure consumers there will be no interruption in the program that has led to packed car dealerships nationwide. Vice President Joe Biden called the program “an unqualified success” as Obama officials sought passage for the extension. (AP)
