Political Quotes

“My amendment eliminates the remaining funding for the Advanced Technology Vehicles Manufacturing Loan program, transferring $6 million to the Spending Reduction Account. Since 2008, the U.S. Government has been in the business of lending money to build cars that no one wants to buy. For instance, $50 million went to the Vehicle Production Group for natural gas minivans. That company failed. Meanwhile, $190 million went to Fisker Automotive to make electric cars that catch on fire. For instance, the Karma, Fisker's hybrid-electric luxury sedan, which cost around $100,000 apiece, was recalled to fix a hose connection that allowed coolant leaks into the battery chamber, causing an electrical short. Fortunately, no one was hurt before production was ended. Unfortunately, taxpayers got back only a fraction of the payout. Mr. Chairman, I'm 100 percent supportive of the automobile industry producing more fuel-efficient automobiles. However, there's simply no good reason that the Federal Government should be subsidizing billion- dollar companies at a time when our Nation is broke. It is time that we begin to reverse this disturbing trend of energy loan programs for companies and let the automobile industry succeed or fail in the marketplace on its own merits. We have to stop these kinds of subsidies, particularly in these hard times when our Nation is in an economic emergency. I urge support of this commonsense amendment, and I yield back the balance of my time.”