McCain, McCaskill oppose more clunker funding

New money for the so-called "cash for clunkers" program easily passed the House Friday, but the proposal faces a challenge from Sen. John McCainJohn McCainTillerson met with top State official: report McCain ‘very concerned’ about Tillerson US democracy is in crisis. Trump voters must help us get past it. MORE (R-Ariz.), who has pledged to block the measure.

McCain said he would filibuster the bill, expected to be considered by the Senate next week, that would redirect $2 billion in energy loans for auto companies into the program.

ADVERTISEMENT
House Democrats last week rushed to add more money to the clunker exchange program when it proved so popular the initial $1 billion Congress provided quickly ran out.

"Within a few weeks we will see that this process was abused by speculators and people who took advantage of what is basically a huge government subsidy of corporations that they already own," McCain told Fox News, which reported the former 2008 GOP presidential candidate was prepared to create roadblocks to the legislation that amount to a filibuster.

"I can't imagine that any taxpayer of America would have thought that the [Troubled Assets Relief Program], the financial recovery money, would be used now to subsidize the sale of automobiles in America," McCain added.

McCain will lead what could be a bipartisan effort to block the bill. Sen. Claire McCaskillClaire McCaskillFive things to watch for in Mnuchin hearing Senators introduce dueling miners bills GOP must avoid Dems' mistakes when replacing ObamaCare MORE (D-Mo.) used her Twitter page Friday to say she would oppose more funding.

Two of the program's initial backers in the Senate have also sent signals that there may need to be tweaks to the voucher program before an extension wins their vote.

"We believe that Congress needs this information immediately in order to evaluate the program's effectiveness in attaining its two goals of stimulating automobile sales and reducing oil consumption," Sens. Dianne FeinsteinDianne FeinsteinSenate to vote Friday on Trump's defense picks Senate seeks deal on Trump nominees Manning commutation sparks Democratic criticism MORE (D-Calif.) and Susan CollinsSusan CollinsGOP rep faces testy crowd at constituent meeting over ObamaCare DeVos vows to be advocate for 'great' public schools GOP senators introducing ObamaCare replacement Monday MORE (R-Maine) wrote Transportation Secretary Ray LaHood. "Without strong data on the effectiveness of the program, it will be more difficult for Congress to evaluate and improve the current program."