Clunkers' Program May End by Early September
WASHINGTON -- The Obama administration said it will wind down its popular "cash for clunkers" incentive program on auto sales -- and may do so as soon as early September, according to one person familiar with the matter.
Transportation Secretary Ray LaHood sought to reassure auto dealers Wednesday that they would be reimbursed for discounts given to customers under the program. With weeks-long delays in processing reimbursements, many dealers have feared the program's $3 billion funding would run out before they received the money owed them.
LaHood said that within two days he would outline how the administration will end the program while ensuring all vouchers issued by dealers are reimbursed. "They're going to get their money," LaHood said.
How are they all going to get thier money, when the money runs out? This has a potential to be devastating to the economy....What say you.
Ohan F fox for this whole "subscribe now" crap. All of them who think they can now charge for this are still living in the dark ages.