Clunkers out of cash.

[RACER X]

lets print up some more $

That was quick. Just a month after President Obama signed in the $1 billion ‘cash for clunkers’ bill, and less than a week of it running, the program has already run out of money once and received House approval for another $2 billion, with a vote passing the additional funds 316-109 today. Senate approval will have to wait until next week, however.

The additional funds come less than a day after confusing and conflicting messages about the program's possible termination from the White House and the Department of Transportation. Today's action by the House makes it clear that the government wants to see the highly popular program continue. The money will be taken from part of the $787 billion stimulus package approved earlier this year.

Originally expected to last through the next several months at least, Ray La Hood, U.S. Transportation Secretary, said late on Thursday that the program was essentially tapped out, and that CARS was set to be suspended just four days after it officially began. Today, however, U.S. Senator Carl Levin released a statement that the program would be continuing, reports The Detroit News. According to Levin, "We have been told by the White House that people can keep buying cars under the program until further notice. We don't know how long it will last, so people should go to their car dealers now if they want to take advantage of the program. We're also going to seek additional funding to hopefully make the program last longer."

Under the program, owners of old cars that cannot achieve above 18mpg in their combined cycles were eligible for a $3,500 voucher from the government towards the purchase of a new car that is at least 4mpg more efficient. Up to $4,500 is available to those who improve their gas mileage figures by 10mpg or more.

Trucks use a different system, where the new truck being purchased has to achieve at least 18mpg and also be 2mpg more efficient than the traded in vehicle. This gets owners the $3,500 voucher, while those improving their mileage by 5mpg get the full $4,500.