Texas Republican Wants End to Auto Loan Program

Flores_Bill_TX

- November 2, 2011

U.S. Rep­re­sen­ta­tive Bill Flo­res (R-TX) wants to end the government’s $25 bil­lion loan pro­gram geared to help OEMs retool their plants so they can build more fuel-effi­cient vehi­cles. The Advanced Tech­nol­o­gy Vehi­cle Man­u­fac­tur­ing loan pro­gram was cre­at­ed by Con­gress in 2007, then fund­ed in 2008 via two mea­sures signed by Pres­i­dent Bush. Accord­ing to Flo­res, “My pro­posed bill to ter­mi­nate the pro­gram pri­or to the end of the cur­rent fis­cal year could poten­tial­ly save addi­tion­al bil­lions in unused tax­pay­er dol­lars. Repeal­ing the ATVM loan pro­gram will pre­serve much-need­ed funds to sup­port projects that have the best chance of pro­vid­ing mid­dle-class jobs here at home in the near term.”





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