Victim of its own success

[JoeH]

One, under the legislation that was passed the program started July 1, but did not start taking applications for the rebates until the 24th. So the money ran out based on four weeks of sales, not just the highly visible last week. Two, the initial estimate was the program would cost $4 billion. During the process of being passed the allocation was cut to just $1 billion as an initial amount as one of many compromises. The initial estimate is looking much more accurate than the naysayers want to give credit for, so they never mention it.