The Cash for Clunkers Program suspended has been confirmed as U.S. federal transportation. On July 30, Thursday The White House said Cash for Clunkers program amid concerns the $1 billion budget for rebates for new auto purchases may have been exhausted in only a week. The program suspended starting on Friday midnight, July 31.
The CAR Allowance Rebate System (CARS) is a $1 billion government program. The CARS program offers owners of old cars and trucks $3,500 or $4,500 toward a new, more fuel-efficient vehicle.
According Yahoo News, "We are working tonight to assess the situation facing what is obviously an incredibly popular program," White House press secretary Robert Gibbs said of the Car Allowance Rebate System. "Auto dealers and consumers should have confidence that all valid CARS transactions that have taken place to date will be honored."
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