Ranking Senate Finance Committee member and Republican Senator from Iowa Charles Grassley, has asked the DOT for an accounting of the administrative costs for the ‘cash for clunkers’ program.
The program was risked out in a very ad-hoc manner, and this causes concern for Grassley. The Dept. has thus far spent $77 million and expects to keep the total to under $100 million. The legislation required the program to run in 30 days and that, says Grassley, creates an inherent risk error.
“‘Cash for clunkers’ was set up very quickly, and there hasn’t been an accounting of the administrative costs of the program,” Grassley said. “There also hasn’t been publicly available information about how contractors were picked to process the thousands of transactions that the program generated. My concern is the waste, fraud and abuse that may have resulted from the vulnerabilities that can come with such a quick start.”
– By: Stephen Calogera
Source: Detroit News