How Long Will the Cash for Clunkers Program Last?
How Long Will the Cash for Clunkers Program Last?Cash for Clunkers is a federal program designed to stimulate U.S. auto sales and help the environment by providing an economic incentive for consumers to replace old, low-mileage vehicles with new, fuel-efficient models that are safer and emit less pollution and fewer greenhouse gases.Answer: Under the original proposal, the Cash for Clunkers program would have been in effect for one year, but the bill Congress passed in June 2009 provided only $1 billion in funding. That was supposed to be enough money to keep the program going until November 1. That turned out to be an optimistic estimate. Less than a week after Cash for Clunkers officially got under way, the program was running short of money and Congress was forced to allocate another $2 billion to keep it running through Labor Day 2009. By the time the entire $3 billion is spent, an estimated 750,000 new fuel-efficient cars and trucks will have replaced the same number of gas-guzzli
