Cash for clunkers

Congress passed the "cash for clunkers" measure late Thursday night as part of the $106 billion war spending bill. President Barack Obama plans to sign the bill into law.

Meanwhile, car dealers may honor rebates starting July 1. The federal agency needs the 30-day window to implement regulations to safeguard the program from fraud and abuse, Tyson said.

Among the issues regulators might address: Does the consumer hold a valid legal title to the car he is seeking to trade in? Will the clunker be appropriately disposed of so that it can't be cashed-in again?

The agency on Friday was scrambling to launch a Web site, www.cars.gov, to provide consumers with information about the program.

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Find more detail: http://nhtsa.gov/staticfiles/DOT/NHTSA/Rulemaking/Rules/Associated%20Files/CARS_1stDayNotice_06262009.pdf