'Cash for clunkers' could run out of gas
(AP) - The popular but overwhelmed "cash forclunkers" program is still rolling ahead, but the White House saysthe Senate better approve $2 billion without delay or the bigrebates for car buyers could be history by week's end. Senate skeptics appear to be in no hurry.
On Monday, the Obama administration pointed to environmentalgains made during the first week of the program, which givesrebates of as much as $4,500 to motorists who trade in gas guzzlersfor more fuel-efficient vehicles. The White House also highlightedrecovery news from Ford Motor Co., which reported its first U.S.sales increase in nearly two years.
"It's good for consumers. It's good for dealers and automanufacturers," White House spokesman Robert Gibbs said. "It'sgood for our energy security and our environment."
Gibbs said if the Senate failed to provide the extra money,"it's unlikely that we'll make it to the weekend with a programthat can continue." He estimated the additional $2 billion wouldallow consumers to take advantage of the incentives throughSeptember.