Response to the government-sponsored and funded Cash for Clunkers program has been so great that the National Highway Traffic Safety Administration is reportedly considering halting the program. Launched just three and a half days go, the program provides up to $4,500 in incentives towards the purchase of a more efficient new car.
United States Transportation Secretary Ray LaHood was apparently calling members of Congress late today to tell them that the government’s funding was almost depleted. Some news sources report that Congress will ask for more money to fund the program.
Unnamed sources told the Detroit Free Press that the government will probably exceed the $950 million it had budgeted (plus $50 million spent running the program) by tomorrow morning, though Leftlane has been unable to confirm this report.
The program has so far boosted sales at some dealerships more than 30 percent and has resulted in nearly empty nationwide inventories of some high-demand cars.
Michigan, a heavy supporter of the program, has called an emergency meeting for its politicians at the request of Dearborn-area Representative John Dingell.
