The federal government's "Cash for Clunkers" program was initially funded with $1 billion, which was supposed to last through November, or until the money ran out. The government, however, did not expect the cash to go nearly as fast as it has, with the entire $1 billion having been exhausted in just one week. The Dept. of Transportation threatened to terminate the program at midnight, however the White House said Thursday evening that they were exploring options to keep it going. Today, the House of Representatives voted to rush an additional $2 billion into the program.

The bill was approved with a vote of 316 to 119, and House members acted within only hours of learning from Transportation Secretary Ray LaHood that the program was nearly out of money. President Barack Obama said he was encouraged by their actions to keep alive a program that had "succeeded well beyond our expectations."

Officially called the Car Allowance Rebate System (CARS), the program was designed to help stimulate the economy and help the environment by spurring new car sales. Car owners are eligible to receive federal subsidies of up to $4500 for trading in their old cars for newer ones with much better gas mileage.

According to House Majority Leader Steny Hoyer the money for the program would come from funds approved earlier this year as part of an economic stimulus bill.

The Senate was not scheduled to vote Friday, however lawmakers hope to win approval for additional funding next week. Because Senate action is likely last week, the program should not be affected by a sudden shortage of cash.