Senate Gives Cash for Clunkers $2 Billion; Clever Dealers Start Own Stimulus Plan
The House passed it last week, and now the Senate and Obama have signed on, so Cash for Clunkers (known to the gummint as CARS, or Car Allowance Rebate System), which ran out of its first billion dollars in funding in one week, has $2 billion. Interest in the program remains high, so that might not last too long. Meanwhile some enterprising car dealerships have united to create their own Automotive Stimulus Plan, which will allow shoppers whose current clunkers do not come in under the government-mandated 18 mpg limit to trade their cars in anyway for a bonus of up to $4500. It's a schtick, but a schtick you can profit from. See, Obama hasn't killed capitalism yet!
Get the ICYMI: Today's Top Stories Newsletter Our daily newsletter delivers quick clicks to keep you in the know
Catch up on the day's news and stay informed with our daily digest of the most popular news, music, food and arts stories in New York, delivered to your inbox.