Cash for Clunkers Program Could be Suspended

POSTED: Friday, July 31, 2009 - 7:35am

UPDATED: Thursday, February 25, 2010 - 11:32am

The government plans to suspend the popular Cash for Clunkers Program over concerns it could quickly use up the $1 billion in rebates for new car purchases.

The Transportation Department called congressional offices late Thursday telling them about the decision to stop the program, which offered owners of old cars and trucks $3,500 to $4,500 dollars toward a new, more fuel efficient car. The congressional officials spoke on the condition of anonymity because they are not authorized to speak publicly.

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