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Durbin Says "Cash for Clunkers" Worked
U.S. Sen. Dick Durbin (D-Ill.) says the tapped-out Cash for Clunkers program was a success.

The program went through $1 billion in four days, offering buyers who traded in old cars for more fuel-efficient new cars $3,500 to $4,500. Durbin says the program was supposed to last four months. "I felt that this would be very popular," Durbin said in Evergreen Park, noting that 250,000 units were sold.

The U.S. House Friday approved $2 billion to extend the program. The Senate will vote on an extension next week. The idea is to get people into dealerships to buy new cars, and to provide an environmental benefit. The traded-in car then must be junked.

The money in the Cash for Clunkers program, known formally as the Car Allowance Rebate System, or CARS, was funded with money from the stimulus program.

(Illinois Radio Network)
07 31 09 by Newsroom
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