WASHINGTON -- The "cash for clunkers" rebate program can burn rubber at least through the weekend after blowing through nearly all its $1 billion in a week.
The House was first in what's expected to be a fast pit stop, voting to pour in another $2 billion to prop up the trade-in deals that have all but overwhelmed suddenly booming car dealers. The Senate has yet to act, but the White House said weekend deals would count, no matter what.
The program was designed to encourage owners of pollution-spewing gas guzzlers to trade them in for new, more efficient cars, helping the hard-pressed auto industry and the environment, too. It worked, almost too well.
Enticed by rebates of $3,500 to $4,500, car owners are jumping at the offer.
The Senate is expected to take up the measure next week.
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