It didn't take the U.S. House of Representative very long to add an additional $2 billion dollars to the hugely successful cash for clunkers bill that is now in the Senate as the program ran out of money only a week after it began.
But the road won't be so smooth for the additional funding for the cash for clunkers program if Republican Senators have their way.
"I just think this is a great example of the stupidity that's coming
out of Washington right now," Sen. Jim DeMint, R-S.C., said on "FOX
News Sunday," adding that the Senate needs to "slow this thing down."
"We estimated this would cost $1 billion," DeMint said. "Now they're saying we need $2 billion
more. Our children and grandchildren can't afford to make these car dealers well right now."
However many new car buyers and automobile manufactures couldn't agree less with the Republican Senator.
Ford has just announced July sales figures and for the first time in over two years the company has actually increased sales of new cars by 2.3 percent.
“We had another strong month in progress before the ‘cash for clunkers’
program started,” Ken Czubay, Ford’s vice president for marketing,
sales and service in the United States, said in a statement. “Our
products, our dealers and our advance preparation enabled us to
leverage the program and drive traffic and sales to another level. In
addition, we achieved a sales increase even though we decreased
incentive spending in an increasingly competitive environment.”
The full Senate take up the additional funding bill this week.
Click HERE for the Cash for clunkers requirements and the most recent and complete list of cash for clunkers qualifying cars is HERE.
