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On of the transportation e-newsletters I get had this information posted this morning I thought I’d share with everyone:
Obama Signs ‘Cash for Clunkers’ Bill
By Light & Medium Truck
President Barack Obama signed into law a $1 billion program to encourage drivers to buy more fuel-efficient cars and trucks, Bloomberg News reported.
The so-called “cash-for-clunkers” legislation, aimed at helping spur auto sales, offers vouchers worth as much as $4,500 to car buyers who trade-in trucks and cars that meet certain benchmarks for fuel mileage.
The program could take effect as soon as August, Bloomberg said. The government needs a 30-day period to officially set rules.
The program was attached to a separate $106 billion spending bill for U.S. war efforts, Bloomberg said.
