Government pays $1.22 billion of Cash for Clunker rebates

September 11, 2009September 11, 2009 Omar Rana Cars Allowance Rebate System, Cash for Clunkers

The U.S. Transportation Department said yesterday that it has paid more than a third of vouchers they gave consumers under the Cash for Clunkers program. As of yesterday morning, the U.S. government has paid a total of $1.22 billion for 289,000 vouchers.

That totals 42.4 percent of the $2.88 billion applied for by dealers under the government incentive, reports Automotive News.

“We’ll meet our deadline,” said Transportation Secretary Ray LaHood. “Every dealer will be paid if they provided us the accurate information.”

The Obama administration has set a Sept. 30 deadline to reimburse most of properly filed claims.

– By: Stephen Calogera