WASHINGTON ( CNN ) -- The Senate voted Thursday night to extend the `` Cash for Clunkers '' program with an infusion of $ 2 billion . President Obama is expected to sign the OK to spend $ 2 billion more on the `` Cash for Clunkers '' program . White House aides said earlier that President Obama will quickly sign the bill into law to prevent any interruption to the popular incentive . The Senate voted 60-37 to approve the measure already passed by the House . `` [ President Obama 's ] going to want to make sure the funds are in place by this weekend , '' one senior White House official noted , because of the particularly brisk weekend business the program has sparked . The program under Obama 's economic stimulus package pays people up to $ 4,500 for trading an older-model vehicle with low fuel efficiency for new vehicles that get better miles per gallon. `` 'Cash for Clunkers ' has been a proven success . The initial transactions are generating a more than 50 percent increase in fuel economy ; they are generating $ 700 to $ 1,000 in annual savings for consumers in reduced gas costs alone ; and they are getting the oldest , dirtiest and most air polluting trucks and SUVs off the road for good , '' Obama said in a statement Thursday night . `` I want to thank Leader Reid and the members of the Senate who moved quickly to extend a program that benefits our recovery and our auto industry while reducing our economy 's dependence on oil , '' he said . The program was intended to run until autumn , but higher than expected participation caused the government to warn last week the program would run out of money without an infusion from Congress . The extension would keep the program going through Labor Day . The House voted to add $ 2 billion to the program before it adjourned for the summer on Friday . With the Senate vote , the additional money will become available right away . Several top Republicans , including Sen. John McCain of Arizona , raised concerns about pouring more money into the program at a time when the government is deep in debt . Senate Majority Leader Harry Reid of Nevada and other top Democrats had been lining up votes for the expansion by making the case that the program is providing a boost to the economy by increasing weak auto sales , while also helping the environment by getting `` clunkers '' off the road in favor of more fuel-efficient vehicles . The program calls for the engines of the clunkers to be made inoperable so the cars can not be returned to the road . Watch what happens to 'clunkers ' » . Democratic officials said several hurdles were cleared in order to allow the Senate to pass the bill with new money on Thursday night . On Monday , two key senators who opposed more money for the program announced they had changed their minds and now supported the extension . The announcement by Sen. Dianne Feinstein , D-California , and Sen. Susan Collins , R-Maine , boosted Democratic efforts to secure enough votes to pass the measure this week . CNN Senior White House Correspondent Ed Henry contributed to this report .
NEW : This means the product will ship as received by the manufacturer, sealed, with all advertised components, and with the manufacturer warranty. Senate votes 60-37 to expand program with an infusion of $ 2 billion . Program allows drivers to turn in gas guzzlers for fuel-efficient models . Lawmakers fear program will run out of money without extension .