Feds To Suspend Cash For Clunkers Program
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Feds To Suspend Cash For Clunkers Program
The government’s popular cash for clunkers program could be a victim of its own success.
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WASHINGTON (July 30, 2009)--Congressional officials say the government plans to suspend the popular "cash for clunkers" program amid concerns it could quickly use up the $1 billion in rebates for new car purchases, The Associated Press reported Thursday evening.

The Transportation Department called congressional offices late Thursday to alert them to the decision to halt the program, which offered owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.

The congressional officials spoke on condition of anonymity because they were not authorized to speak publicly.

Through late Wednesday, 22,782 vehicles had been purchased through the program and nearly $96 million had been spent, but dealers raised concerns of large backlogs in the system, prompting the suspension.


Latest Comments

Posted by: Frank Location: Belton on Aug 5, 2009 at 07:36 AM

Hey cant make in Cove - I'm glad to see you were able to take advantage of the C4C deal. Sounds like it was perfect for your situation. But I will have to disagree in part with your housing statements. Everyone deserves the opportunity to work and buy a home. As far as companies building these big homes, it is in part because of entitlement programs allowed people to buy above thier means. My wife and I both have decent jobs but we didnt go out and buy a 150,000 home, one because we didnt qualify for any type of program and two, we didnt want to get bogged down in mortgage debt. As a matter of fact, our house is for sale for a good price and its a nice little 3/2 bath home. But we cant sell it because everyone wants a big house.
Posted by: Frank Location: Belton on Aug 5, 2009 at 07:29 AM

Bill G, So you started smart, got dumb, then lost your mind completely. I guess early onset idiocy is another problem facing people. You got it bad though.....lol Smarmy know it all moron
Posted by: Central Location: Texas on Aug 3, 2009 at 11:21 PM

This program is one of the best programs in history, three fold, helps the auto industry, spurs the economy, and reduces greenhouse emissions....Thumbs up. Nice job.
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