'Cash for Refrigerators' Coming Soon

(MYFOX NATIONAL) - As the government's "Cash for Clunkers" program comes to an end Monday, consumers can look forward to the next federal stimulus program -- "Cash for Appliances."

BusinessWeek reports that a program similar to CARS will be offered in the fall in an effort to boost sales of energy-efficient home appliances.

The program, which is part of the broader economic stimulus bill passed earlier this year that has already given a boost to the housing and auto industries, reportedly will authorize rebates of $50 to $200 for purchases of high-efficiency household appliances.

Officials are hoping the program will revive the struggling home appliance industry and help save energy at the same time.

"These rebates will help families make the transition to more efficient appliances, making purchases that will directly stimulate the economy," Energy Secretary Steven Chu said in a statement.

Shipments of washers, dryers, refrigerators, and ovens dropped 10 percent in 2008 and are down 15 percent through July, according to the Association of Home Appliance Manufacturers .

Many states including New York and Michigan already have programs offering rebates for consumers who recycle their old refrigerators.

3 More Talkers You Should See

• Brazil Subway Installs Obese Seats
• Asian Hornets Terrorize France
• Naked Subway Riders Part of Art Project