Earth Equity News

'Cash for Clunkers' Extension Gains Support in Senate. AP, August 4, 2009. "On Monday, the White House had warned that the program could come to an abrupt halt Friday if the Senate did not act favorably on a bill passed by the House last week transferring $2 billion to the program from an economic stimulus account that had been set aside to subsidize renewable energy. The infusion of new money would carry the program through September... Through early Tuesday, the clunkers program had recorded 157,000 transactions worth $664 million. Eighty-three% of the vehicles traded in were trucks or sports utility vehicles, while 60% of the vehicles purchased were passenger cars, for an average increase in fuel efficiency of 61%... Republican Sen. Lindsey Graham predicted that the Senate will approve it...The fuel efficiency gains helped sway Democrats Dianne Feinstein and Chuck Schumer, and Republican Susan Collins, who had complained that smaller rebates of $3,500 were going to people buying new cars that get as little as 4 more miles per gallon than the gas-guzzlers they traded in."