|
(Washington D.C.)- The House of Representatives today approved legislation to re-direct $2 billion from Recovery funds for the Consumer Allowance Rebate System (CARS), also known as “Cash for Clunkers.” The funding was considered on an expedited basis after the Department of Transportation informed Members of Congress that dealerships across the country may have already sold enough care to exhaust the $1 billion in funding previously provided.
“Consumers have spoken. This program is hugely successful and we have to keep up the momentum,” said Rep. Levin. “Getting consumers back into showroom is vital to our national economic recovery as it stimulates the economy and helps the domestic auto industry get back on its feet.”
“The Administration has assured dealers and consumers that rebates for vehicles already sold under the program will be honored now and through the weekend. I’m hopeful the Senate will act quickly so we will have this additional funding boost to the President in time to avoid any gap in this important recovery program.”
The legislation approved in the House today, H.R. 3435, redirects $2 billion to the CARS program from a Department of Energy loan guarantee program funded as part of the Recovery Act. It passed on a bi-partisan 316-109 vote, and must now be considered by the Senate.
(####)
|
