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July 31, 2009

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Well, 2 Billion in funds have been found for the Cash for Clunkers program. So it looks like things are safe for probably another two weeks for anyone wanting to trade in their old gas guzzlers for a fresh brand new automobile.

The U.S. House of Representatives Friday voted to transfer funds from other parts of the federal stimulus package to the auto-rebate program.

AutoNation CEO Mike Jackson said that a lot of cars have been moved, especially mid range models, more so than luxury brands. And that the stimulus bill has helped the company’s bottom line.

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