The Department of Transportation announced that the Cash for Clunkers program was being suspended at 12:00 a.m. on Friday, July 31, 2009. The program had only run for five days and in that time it had reached it's $1 billion dollar budget. The White House said they were working to find other ways to keep the program running. The program was supposed to run until November 1, 2009.http://www.washingtonpost.com/wp-dyn/content/article/2009/07/31/AR2009073101173.htmlhttp://abcnews.go.com/GMA/story?id=8218841&page=1
References
Fast Facts
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Fact:
Program began on July 27, 2009
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Fact:
Suspended on July 31, 2009
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Reason
Nearly $1 billion budget reached
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Fact:
Program was intended to run through November 1, 2009
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Goal
To take 1 million gas guzzlers off the road
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Additional Funding
May reach $4 Billion
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Fact:
Bailed-out bankers raking in billions
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Fact:
More than 22,000 people took advantage
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Fact:
Car dealerships increased business by about 30%
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Reason for program
To boost U.S. auto sales and help struggling automakers
