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Cash for Clunkers Plan B?

From NBC's Kelly O'Donnell and Scott Foster
Administration and Capitol Hill sources tell NBC News that efforts are underway to protect the CARS program also known as "Cash for Clunkers."

Although key members of Congress were notified by the Secretary of Transportation Thursday that the auto purchase incentive program would run out of money at midnight, sources say "Administration and Congressional officials are working to keep it up and running."

Video: The Obama administration is reviewing its 'cash for clunkers' program. CNBC's Phil LeBeau reports.

The program has exhausted its authorized funding of nearly $1 billion in less than a week, but officials say "it is not suspended."

White House spokesman Robert Gibbs today said the program is "up and continuing to run," adding that the plan is available for car buyers this weekend.

He said the administration is working to extend the program with more funding. "OMB and DOT and the economic team are working with bipartisan leaders to com up with more funding," Gibbs said. He repeatedly emphasized the White House believes the program is "working well."