Senate votes to extend 'Cash for Clunkers' program


The "Cash for Clunkers" program lives. The Senate voted Thursday evening to jump-start the ultra-popular plan with an additional $2 billion in incentives to trade in older, gas-guzzling cars for newer, more fuel-efficient models. (Update: President Obama signed the bill into law Friday morning.)

The money should keep the plan running for the rest of the summer, government officials said. It stalled after far more people than anticipated decided to exchange their automobiles, mostly light trucks and sports utility vehicles, for up to $4,500 toward a new car.