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President Barack Obama signed into law Friday a measure tripling the budget of the $1 billion incent

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HEADLINE: Obama signs 'cash-for-clunkers' extension CAPTION: President Barack Obama has extended the car rebate stimulus program that proved so popular it ran out of money. (Aug. 7)) [Notes:ANCHOR VOICE] NB. THIS IS A VOICEOVER TRANSCRIPT, NOT A FULL SHOT LIST. Car shoppers are getting more time to trade in their old gas guzzling clunkers for cash. President Obama has signed into law a measure tripling the budget to $3 billion and extending the program to Labor Day, assuming the new money lasts that long. The law gives owners up to $4,500 for trading in old cars that use a lot of gas for newer, more efficient vehicles. The program has drawn big crowds to formerly deserted showrooms. On Tuesday Transportation Secretary Ray Lahood hailed the programs success. SOT: Transportation Secretary Ray Lahood "this is the one stimulus program that I believe has been the most popular. The money gets out quickly. The car purchaser gets the money in the form of a rebate. The car dealer sells automobiles. Car salemsen are flooded with people. Extraorindary way to boost the economy." In a statement President Obama said the extension means more Americans will have the chance to purchase newer, more fuel-efficient cars and the economy will continue to get a much-needed boost. Through late Tuesday, more than $775 million of the original $1 billion had been spent, accounting for the sale of nearly 185,000 new vehicles. You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/6b93c71b971e1bf1c7c006375ee49dd0 Find out more about AP Archive: http://www.aparchive.com/HowWeWork
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