Cash for Clunkers in Limbo

Clunkers2

Overnight there were conflicting reports from automotive dealers, the Transportation Department and the White House about the popular Cash for Clunkers program being suspended because it had run out of money. This morning, the White House restated that the program has not been suspended. 
 
The Detroit News is reporting today that administration officials and congressional aides worked through the night to secure additional funding for the program, up to as much as $4 billion, the original approved budget for the Clunkers program. 
 
With a congressional recess scheduled to start after today, a decision likely will have to come down by this afternoon. Keep your bookmarks here for updates as we get them.

Oh, and by the way, the government has taken down its meter, which yesterday showed more than $700 million left for deals.

Update 1: The Detroit News is reporting that Sen. Carl Levin (D-Mich.) has stated Cash for Clunkers will be good "at least" through today

Update 2: New York Times business correspondent Micki Maynard Tweeted that a bill has been introduced to add $2 billion in additional funds to Cash for Clunkers. Here's the Detroit News story on the emergency bill. 

Update 3: Despite all the confusion and questions, White House spokesman Robert Gibbs says anyone who buys a car through the weekend will have their rebate honored

Update 4: The U.S. House of Representatives is actively debating a new bill to add $2 billion more to the Cash for Clunkers program. Most predict it will pass. 

Update 5: The bill to add $2 billion more has passed the House.

By David Thomas | July 31, 2009 | Comments (6)

Comments 

Mike

Where did this four BILLION come from?

Mike,
I believe it was under the cushions of the Senate floor.

Maxwell

Obama and Congress to America: "We're so happy that we managed to piss away a billion of your tax dollars in only 4 days - so that you could help pay for nice expensive new cars for your neighbors - we're gonna now piss away MORE.

J

Just because he got re-elected on 2008 does not mean this will not cost him his next election! Which stupid morons voted him there?!

Dan

Darn it! I hate it when the government spends money on programs that help the lower and middle class.
MORE TAX SUBSIDIES FOR THE EXCESSIVELY WEALTHY!

Starting July 24 2009 consumers who would like to purchase a new car trading off their old gas guzzlers can use
the Cash For Clunkers program voucher.


Jhenry
Blogger
www.cashforclunkersfacts.info
http://www.cashforclunkersfacts.info

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