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Monday, 03 August 2009 10:09

Transportation Secretary Says Any CARS Rebate will be Paid through Aug 4

U.S. Transportation Secretary Ray LaHood said that the CARS program will continue until the Senate votes on an extension. Whether the program continues with an additional $2B in funding, already appproved by the House, will depend on the Senate vote, Dealer rebate applications will be honored at least through Tuesday, Aug. 4.

"We will continue the program until we see what the Senate does, and I believe the Senate will pass this," LaHood said in a C-SPAN interview.

The Senate is meeting this week before breaking for a month-long recess to consider the $2 billion funding approved by the House last week.

LaHood sought to address dealer concerns that the exhaustion of funds would leave them holding the bag on deals that had been completed with customers.

"Anything that's in the pipeline will be paid," he said.

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