WASHINGTON, D.C. -- Senate was expected to vote today on a measure to add $2 billion to the popular “Cash for Clunkers” or Consumer Allowance Rebate System (CARS), to keep the program running through Labor Day. Some reports indicate that the vote may be pushed back to Friday, due to slow negotiations.

The bipartisan legislation to add $2 billion to the program passed last week in the House by a vote of 316 to 109.
 
Economic Policy Institute researchers John Irons and Alexander Hertel calculate that the average participant in the program will save $821 at the pump because of better fuel efficiency, which will translate into 22.2 million fewer barrels of foreign crude, and 850,000 fewer tons of CO2 emitted.
 
“The ‘Cash for Clunkers’ program is a classic win-win scenario,” said Irons, EPI’s research and policy director. “Consumers will have more money to spend at home to spur the domestic economy, and they’ll be helping to reduce greenhouse gas emissions at the same time.”