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Durbin Supports Extra 'Cash for Clunkers' Funding
U.S. Senator Dick Durbin is pleased that the Senate has voted to appropriate another $2 billion into the Cash for Clunkers program.

Durbin says the original $1 billion in funding for the program resulted in the sale of 257,000 new cars, giving a boost to the economy. He believes the additional $2 billion will result in the sale of 500,000 new cars before the federal dollars run out.

Speaking at a family-owned new car dealership in Chicago, Durbin says he doesn't know if the program will be extended further. He hopes dealerships and car manufactures will look to the private sector to fund similar programs and incentives.

Asked if Congress should have tried Cash for Clunkers before bailing out General Motors and Chrysler, Durbin told reporters that those first moves were necessary. He says both automakers needed restructuring in order to survive in today's global economy.

The Cash for Clunkers program gives consumers up to $4,500 in federal subsidies if they trade in their cars for new, more energy-efficient models.

Meanwhile, there are warnings about Cash for Clunkers scams. Fraudulent Web sites have popped up that ask consumers for personal information to register leading to identity theft. The real program doesn't require registration.

(Illinois Radio Network)
08 07 09 by Newsroom
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