Senate OKs cash-for-clunkers bill

0 Comments | USA TODAY, June, 2009 | by Sharon Silke Carty

DETROIT -- The Senate passed a pared-down version of the so-called cash-for-clunkers program Thursday that will give rebates to new car buyers who turn in older, less fuel-efficient models and that supporters are hopeful will kick-start the anemic car market.

The program, offering $3,500 or $4,500 cash vouchers, was inserted into a war-spending measure. As passed, program spending is limited to $1 billion and expires Oct. 1.

Consumer website Edmunds.com estimates it still, however, could boost sales this year by about 250,000 vehicles. This week, General Motors CEO Fritz Henderson said the automaker is seeing some stabilization in its sales and estimated GM could see a sales boost of about 10% if the cash-for-clunkers program takes effect.

Dealers have...