Rep. Don Manzullo's blog
Rep. Manzullo's Vehicle Voucher Bill Would Strengthen U.S. Auto Industry, End Need for Taxpayer Funding
As President Obama announced yet another $30 billion in taxpayer funds for GM today, U.S. Rep. Don Manzullo (R-IL) reiterated the best way to re-start manufacturing and end government intervention in the auto industry is to give Americans incentives to buy cars and trucks again.
Manzullo introduced legislation earlier this year to give Americans a $5,000 voucher to purchase a new vehicle, stimulating auto sales and manufacturing, re-starting the supply chains, and putting millions of Americans back to work. The New Automobile Voucher Act of 2009 (HR 1606) would provide a one-time, $5,000 electronic voucher from the U.S. Treasury at the point of sale of a new vehicle through the end of 2009. It would provide vouchers for 15 million new vehicles.
All Options Should Be on the Table to Assist Automobile Industry
I am encouraged that a compromise between Congress and the White House on providing a smaller bridge loan to the domestic Big 3 automakers appears to be near completion. This proposal allows automakers to tap into previously approved funds to get the cash they need to survive right now. This bridge loan should be coupled with the restructuring plans each of the auto executives and the autoworkers union brought to Washington last week to cut excessive costs, restructure their companies, improve overall efficiencies, and make the fuel-efficient vehicles of the future.
