Senate Approves More Cash For Clunkers

The US Senate has voted in favour of allocating an additional US$2bn to the Car Allowance Rebate System (CARS), or 'cash for clunkers' as it is more popularly known. The scrappage scheme, which has been a runaway success, was in danger of coming to an end just a week after it began, as the US$1bn fund neared depletion. Transport Secretary Ray LaHood, who first cautioned that the scheme may come to an end if more funds were not secured, estimates that the extra US$2bn should cover 500,000 new vehicle sales, in addition to the 250,000 from the initial phase of

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