Thaindian News

Finally there is good news for all car owners. The Senate has voted to pass the immensely popular cash for clunkers program on Thursday. The move almost triples the $1 billion fund that had been initially allotted for the “trading in” program.

The result has been that the once deserted car showrooms are all of a sudden being witness to a surge in the in-coming crowd, the auto showrooms are once again having a good foot fall in the store.
President Barack Obama is likely to sign the bill that will extend the program almost till Labor Day, which will prevent the two week old incentives from coming to a standstill. The Senate passed the bill after a strong vote of 60 to 37 pushed for the go.

Don Stewart, who is a spokesperson for the Senate Republican leader Mitch McConnell, R-KY, said, “It does seem to be out of character for Democrats to support allowing millionaires access to borrowed money to buy cars.”

Before the bill had passed, Democratic Majority Leader Harry Reid of Nevada said, “We all know that if we change the (cash for clunkers) bill, it will die.” He further stated, “We are going to do everything we can to stop that.”

President Obama said in a statement in support of the vote, “Now more American consumers will have the chance to purchase newer, more fuel-efficient cars and the American economy will continue to get a much needed boost.”

The extra money in the deal is for helping automakers, besides acting as an economic boost. Alongside, the least fuel-efficient vehicles would also be removed from the road.