Senate Passes "Cash for Clunkers" Bill

The U.S. Senate has passed a proposal to give Americans a voucher, worth up to $4,500 toward the purchase of a new car when they trade in an older, less fuel-efficient model. The measure has already passed the House of Representatives and has the support of President Obama, so it is expected to become law this summer. For a detailed explanation of the program, read our Cash for Clunkers Q …

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