White House says 'Clunkers' program good through August 7 - WKOW 27: Madison, WI Breaking News, Weather and Sports

White House says 'Clunkers' program good through August 7

WASHINGTON (WKOW) -- White House Press Secretary Robert Gibbs is giving some cars buyers a chance for fore time to mull over the Cash for Clunkers deal.

The rebate program, initially meant to last into November, was so popular in its first full week since details were announced, that it already ran out of money.

Last Friday, the House voted by a three-to-one margin to fund CARS, the Car Allowance Rebate System, for an extra $2 billion, before members left on their summer break.  The Senate has yet to vote on the increase.  Gibbs said they must act by Friday, before that chamber also leaves on August recess.  The program was initially funded for $1 billion.

Until a possible vote, Gibbs did say Monday that the rebates, between $3,500 and $4,500 dollars will still be honored through Friday.  He says anyone who wants to trade in a less fuel-efficient vehicle for a higher-mileage one should do so.

But if the Senate fails to act by Friday, Gibbs says it's unlikely the program will be available next weekend and beyond.

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