Political Quotes

“I wanted to quickly take a moment to speak about the vehicle program from two sides. When I authored this legislation back in 2007, we began to see fuel economy standards increase in the United States. Part of our focus at that time was to keep jobs in America and make sure we had low-cost financing available for companies, such as retool plants, so that smaller, fuel-efficient vehicles would be made in the United States rather than have those jobs shipped overseas. We saw that with the initial loan made to Ford Motor Company. They were able to bring jobs back from Mexico and also focus on electric vehicles. As we fast forward to today, we are looking at fuel economy for trucks and larger vehicles. A loan was recently made to Alcoa. They are focused on aluminum materials so companies can make lighter weight trucks in order to meet new fuel economy standards. There are positives, but there are also areas under this loan program that have not been successful.…”