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WH adviser describes 'flurry' to find 'cash for clunkers' funding
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07/31/09 05:49 AM ET
There is a "flurry" of activity in Washington, D.C. to ensure the "cash for clunkers" program will continue to be funded, one of President Obama's senior economic advisers said Friday morning.
"We just got a note from our legislative folks that absolutely, if people want to go out there, the money is still there," Council of Economic Advisers (CEA) Chairwoman Christina Romer during an appearance on CNBC.
"There's a flurry of activity, working with Congress, to make the funds are there for it," she added.
The government had notified lawmakers late on Thursday that the stimulus plan, which allows consumers to trade in less fuel-efficient vehicles in exchange for vouchers for new, more environmentally cars, had run out of money after less than a week in existence.
Rep. Pete Hoekstra (R-Mich.) indicated Monday that the apparent suspension of the program was initiated by the Department of Transportation, only to be reinstated by the White House.
Hoekstra tweeted Friday:
Romer seemed to signal that the administration would work to keep the program in place.
"We think it's great for the environment and great for the auto industry, so this is good news," she said of the quick burn through the $950 million allotted for the program.
"We just got a note from our legislative folks that absolutely, if people want to go out there, the money is still there," Council of Economic Advisers (CEA) Chairwoman Christina Romer during an appearance on CNBC.
"There's a flurry of activity, working with Congress, to make the funds are there for it," she added.
The government had notified lawmakers late on Thursday that the stimulus plan, which allows consumers to trade in less fuel-efficient vehicles in exchange for vouchers for new, more environmentally cars, had run out of money after less than a week in existence.
Rep. Pete Hoekstra (R-Mich.) indicated Monday that the apparent suspension of the program was initiated by the Department of Transportation, only to be reinstated by the White House.
Hoekstra tweeted Friday:
Cash for clunkers was re instated by WH very late last night overruling transportation dept. Lots of guessing on data/very little hard data
Romer seemed to signal that the administration would work to keep the program in place.
"We think it's great for the environment and great for the auto industry, so this is good news," she said of the quick burn through the $950 million allotted for the program.
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