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The billion dollar drain on the economy known as CARS or Cash for Clunkers has been suspended for a few days, but will be getting an extra $2 billion thanks to the Senate approving the measure today.

The news came after some very long and tedious negotiations between senate Democrats and Republicans. There were also a number of changes that have been added to the bill that was passed by the House of Representatives last week.

Senate Majority leader Harry Reid called the measure something that needed to be accomplished.

Yesterday, the government said that an amount greater than $775 million had been spent on the bill. There was only $1 billion allocated to it in the first place. This means that somewhere in the range of 185,000 new cars have been sold thanks to this bill. With an extra $2 billion, another half a million cars can be put on the road.

So far with the bill, the Toyota Corolla is the top seller. This is followed by Toyota’s other gas sipper – the Prius. Other cars that have been selling well with the Cash for Clunkers program include the Ford Focus, Honda Civic, and even the Ford Escape, an SUV whose hybrid model can reach up to 32 miles per gallon.

There have been several problems with Cash for Clunkers. Initially, it was a good idea that seemed to be able to work, but then there were rules and restrictions put on the bill that made it difficult for some people to trade in their cars. Then, more news came out about scrappers and the problems they had with the deal.

Jeremy

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