Extra $2 Billion Injection into Cash for Clunkers Approved by Senate
BY MICHAEL MCAULIFF IN WASHINGTON AND DAVID GOLDINER
DAILY NEWS STAFF WRITERS
Thursday, August 6th 2009, 8:07 PM
DelMundo for News
Brian Benstock, of Paragon Honda in Queens, welcomes the new “Cash For Clunkers” extension
The Senate filled ‘er up last night, voting 60-37 to top off the Cash for Clunkers program with an additional $2 billion.
That should keep the popular car-swap deals humming along well into September, depending how fast cars sell.
The news thrilled dealers, who have watched gleefully as consumers turned in gas-guzzling trucks and SUVs to take home fuel-sipping compacts and rebates up to $4,500.
“It’s great news – this is exactly what the government was supposed to be doing,” said Brian Benstock of Paragon Honda in Queens. “It’s a spark that will help the entire economy.”
The Senate passed the measure just before going home for a month-long vacation. The House okayed it last week.
Republicans opposed the extension, arguing it increases the deficit.
“This should be called the debt-for-clunkers bill,” said Sen. Judd Gregg (R-N.H.).
The GOP also contended the 200,000 to 250,000 cars sold with the program’s original $1 billion is only about 20,000 better than normal – meaning the boost cost Uncle Sam $45,000 per extra car sold.
Democrats countered that the auto market was way below normal in the recession, that the program was a lifeline for a struggling industry, and it is helping the environment.
Benstock said there’s no danger of running out of customers – there’s still millions of cars that qualify. “This will help everybody get to the party,” he said.
Tags: cars, cash for clunkers bill, cash for clunkers, cash for clunkers legislation, cash for clunkers voucher