On the recordJune 1, 2012
My amendment would reduce funding for the Energy Efficiency and Renewable Energy account by $355 million, with the intention of removing all funding for vehicle technologies. This reduction would be transferred to the spending reduction account. Madam Chairman, I'm 100 percent supportive of the automobile industry producing more fuel-efficient automobiles if they choose to do so; however, there is simply no good reason that the Federal Government should be subsidizing billion-dollar companies at a time when our Nation is broke. Over the past few years, we have seen the automobile industry receive an unprecedented amount of government assistance. We've seen an industry bailout, the market-distorting Cash for Clunkers, and many more subsidies all done with little regard for taxpayer money. It's time we begin to reverse this disturbing trend and let the automobile industry succeed or fail on its own merits. I urge support of my amendment, and I yield back the balance of my time.
