June 12, 2009 -  The House and Senate have agreed upon a $1 billion appropriation for the Cash for Clunkers bill.  The one billion dollar funding is part of a much larger $106 billion dollar wartime spending bill. 

The Cash for Clunkers bill is NOT yet law as the finalized bill must be passed by Congress.  It is expected that a vote could come next week.   President Obama has already told US consumers that he supports the measure and would sign it into law. 

Stay posted because the bill seems very likely to pass and please signup for our email alerts.

Limited Funding = Limited Time

Since the funding is only 25% of what was originally requested, the bill may only be able to provide vouchers for consumers for a limited time.  The thought seems that lawmakers wanted to get the bill started and that the one billion dollars could hold the program until the end of the fiscal year, which is September 30, 2009. 

Democratic supporters of the bill are obviously pleased with the compromise and commitment to fund the program.  A final vote is expected next week.

Connect with a Local Dealer

Consumers are encouraged to connect with a Participating Dealer if they are interested in purchasing a car this summer before the funding runs out.  The form on the left can expedite the process of contacting a local dealer who can assist you with your trade in and new purchase.

Tags: cash for clunkers, cash for clunkers funding