Obama signs 'cash-for-clunkers' extension into law
St. Paul, Minn. — It's official: Car shoppers are getting more time to trade in their clunkers for cash.
President Barack Obama signed into law Friday morning an extension of the stimulus program that proved so popular it ran out of money.
The Senate voted Thursday to triple the "cash-for-clunkers" fund to $3 billion and extend the program to Labor Day, assuming the new money lasts that long. The law gives owners $3,500 to $4,500 for trading in old cars that use a lot of gas for newer, more efficient vehicles.
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