Transportation chief says ‘cash for clunkers’ will stop unless Senate acts
WASHINGTON (AP) -- The Obama administration will suspend the "cash for clunkers" program unless the Senate provides $2 billion more for the popular car incentive plan, Transportation Secretary Ray LaHood said today.
He said he expected the current $1 billion pool to be exhausted tonight. The House approved an additional $2 billion on Friday and the administration is pressing the Senate to go along before its summer vacation begins at week's end.
"If we don't get the $2 billion from the Senate ... we would have to suspend the program next week," LaHood said in an interview with C-SPAN's "Newsmakers" show.
He said the administration "will continue the program until we see what the Senate does and I believe the Senate will pass this." He added, "Any deal that is made (Monday) or the next day and that is in the pipeline, ... the dealer will be reimbursed and the car buyer will be reimbursed."
