How much money can you get from the so-called Cash For Clunker bill recently passed in Congress?
Cash for clunkers bill approved by House WASHINGTON – The House approved a “cash for clunkers” bill yesterday that aims to boost new auto sales by allowing consumers to turn in their gas-guzzling cars and trucks for vouchers worth up to $4,500 toward more fuel-efficient vehicles. President Obama has encouraged Congress to approve consumer incentives for new car purchases as part of the government’s work to restructure General Motors and Chrysler. The House approved the bill 298 to 119. Supporters pushed for the measure to stimulate car sales and increase the fleet of fuel-efficient vehicles on the nation’s highways. General Motors and Chrysler have received billions of dollars in government aid and the entire auto industry has watched car sales plummet during the past year. In May, overall sales were 34 percent lower than a year ago. Also yesterday, a top GM executive said up to 20 dealerships will be spared the death penalty after the company reviewed their cases and reversed plans to
