Rep. Pete Hoekstra (R-Mich.) vowed that the entire Michigan congressional delegation will work to find more funding for the government’s new “Cash for Clunkers” program, which has abruptly run out of money.
The program had been a boon for automakers, so much so that the AP reported that the Obama administration will halt the program due to lack of adequate funds.
PRELIMINARY report says DOT may run out of cash for clunkers tonight. Stay tuned for further updates. If accurate a real stimulus.
I believe preliminary information on cash for clunkers running out of funds is accurate. Mi delegation united to find additional funding.
Cash for clunkers appears to have generated sales of over 200000 in less than 1 week. There are questions on program but overall positive.
The program had only been operating for less than a week. Congress had initially allocated $1 billion to provide consumers with vouchers upon trading in cars with poor gas mileage in order to buy more fuel efficient vehicles.
Food for thought: With August recess approaching this weekend, will the House take up this issue before they head home to their districts? If not, when, if ever, will they find more money?