After weeks of debate and legislative gamesmanship—several versions of this bill have been
passed or voted on in both houses of Congress, with lawmakers eventually attaching it to an unrelated military funding bill—"Cash For Clunkers" is finally one step away from becoming law. Officially called the
Consumer Assistance to Recycle and Save Program (CARS), the law made its way to President Obama's desk yesterday, backed by $1 billion in funding that is designed to stimulate the sale of 250,000 new cars and trucks in the next year.