Critics of the Cash for Clunkers program view the $3 billion program as an example of the Obama administration willingness to cherry-pick winners and stick taxpayers with the tab.
Congress has passed a $2 billion extension of the popular “cash for clunkers” program, clearing the legislation for President Barack Obama’s signature.
The “cash for clunkers” program, offering $4,500 rebates to customers who trade in gas guzzling vehicles, is likely to end Friday if the Senate does not approve $2 billion more for it.
Lured by the government's cash-for-clunkers campaign, buyers returned to showrooms last month, as Ford Motor Co. reported its first U.S. sales increase in nearly two years.
