While the Senate voted to increase fuel-economy standards to 35 mpg by 2020 in June, Democratic candidate Hillary Clinton today proposed hiking the standards to 55 mpg by 2030, and probably pissing of automakers even more.
Ford, GM, Chrysler and Toyota have shown their support for a lighter increase that would call for the fuel-economy standards to raise between 32 to 35 mpg by 2022.
To go along with her new proposal, Clinton pledged to offer domestic manufacturers $20 billion in low-interest government loans to help in development of facilities. However a less-aggressive proposal would cost the industry at least $85 billion by 2020.
“I want to be a partner, a good partner, to help them transition to the clean economy,” said Clinton.
Clinton’s campaign says that by 2030, tough CAFE standards would save consumers more than $180 billion a year while reducing carbon dioxide emissions by more than 730 million metric tons.
Clinton also said that she would invest $2 billion in research and development, offer consumers tax credits of up to $10,000 for purchasing a plug-in hybrid and would like to add 100,000 plug-in hybrid electric vehicles to the federal fleet by 2015.
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Source: The Detroit News
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