The U.S. Senate holds the key to the “Cash for Clunkers” program that offers up to $4,500 for trading in an older car for a new, more fuel efficient one. Now that the funds have dried up, this week, the Senate will take up the idea of whether or not they want to give the program additional funding. Senator Jim DeMint told ABC News he opposes the plan.
“My children and grandchildren are gonna have to pay for these cars, and we’re helping the auto business while there are thousands of small businesses that aren’t getting the help,” says DeMint.
The program was originally budgeted $1 billion, but consumers used that amount in about a week. DeMint says the “Cash for Clunkers” program is just another idea of stupidity coming out of Washington.