Talk about a federal program that worked! Wow! The ‘cash for clunkers’ program aimed to stimulate the economy, and help the environment took off like a rocket and is close to running out of money in just days. As such I think it essential that Congress allocate another huge chunk of money for this program. It will help the entire chain of folks involved in the car industry to keep working; from the widget makers at the start of the production line to the insurance salespeople at the end of the line. I ask again…. which Republican wants to stand up and say the stimulus bill is not working.
The Obama administration is seeking ways to keep the $1 billion “cash for clunkers” program running after a burst of demand exhausted much of the money.
The program to encourage new car sales is still in operation, and the Obama administration will meet today with congressional leaders “to find and develop ways to continue to fund” the auto discounts, White House press secretary Robert Gibbs told reporters today.
“If you were planning on going to buy a car this weekend, using this program, this program continues to run,” Gibbs said. “If you meet the requirements of the program, the certificates will be honored.”
Senator Debbie Stabenow, a Michigan Democrat, and other lawmakers called for an infusion of taxpayer money to subsidize more new-vehicle purchases in the effort to revive dealerships and automakers while getting older, less fuel-efficient vehicles off the road. Much of the money was committed within six days after the program began.
“It is amazing that ‘cash for clunkers’ would be this successful this quickly,” said Stabenow in an e-mailed statement yesterday. “I urge Congress and the administration to provide additional funding.”