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Cash for Clunkers Program Will Get More Funds
The very popular Car Allowance Rebate System also known as the “cash for clunkers” program will probably get another two billion dollars in funding.
The program started in late July and the original one billion in funding ran out in about a week because the program ended up being a lot more popular than the government ever imaged.
The House voted to approve more funding and the Senate will vote today. Surprisingly, there are critics of the program. How can any politician criticize a program that gets consumers spending again buying automobiles?
The program is helping out auto manufacturers, auto dealers and will probably get some auto factories that were idled producing vehicles again.
I personally think the second round of funding should be more than two billion, why not five or ten billion?
I also bet this round of funding will be depleted just as fast as the original one billion, if not faster since there will be a mad rush to dealerships across the United States.