Cash for Clunkers to end Monday

The Obama administration plans to end the popular $3 billion Cash for Clunkers program on Monday at 7 p.m CDT, the Associated Press has learned.

Two congressional officials familiar with the plan say the Transportation Department will wind down the program that offers car buyers rebates of $3,500 or $4,500 for trading in older vehicles for new, more fuel-efficient models. The officials spoke on condition of anonymity because they were not authorized to speak publicly about the plan.

The Obama administration was set to announce details on Thursday.