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GOVERNMENT'S SUBSIDIES * USA - Congress Approves $25 Billion Loan for Detroit Automakers
Detroit,Mich,USA -The Detroit News/Automotive Digest -29 Sept 2008: -- US House, Senate handily approve $25B low-interest loans to auto industry, bill now awaits President Bush's signature... Automakers get 25-year loan terms, could ask Energy Department for 5-year deferral for repayment... Under terms of bill, carmakers must use funds to retool plants. And build vehicles 25% more fuel efficient than called for by government rules... NHTSA: Estimated cost to automakers to meet 1st 5 years of new higher standards: $47B... Energy chief says could take 6 to 18 months to get money to automakers, Sen. Levin vows to push speedier distribution... Tax credit for plug-in hybrid vehicles, money for battery research still unapproved...
* TRUCKING INDUSTRY - EPA Awards $3.4 Million in Clean Diesel Grants
Washington,DC,USA -Transport Topics -29 Sept 2008: -- The U.S. Environmental Protection Agency Wednesday announced the first $3.4 million for clean diesel projects under the agency’s diesel emissions reduction program... The grants will help trucking save more than $72 million in fuel costs per year, EPA Administrator Stephen Johnson said in a statement... The awards program is intended to promote saving fuel and lowering greenhouse gas and exhaust emissions from diesel engines... Three organizations — Community Development Transportation Lending Services, Cascade Sierra Solutions and the Owner-Operator Independent Drivers Association — will share the grant to help small trucking companies lower fuel costs and emissions through loans and rebates, the agency said...
* INFRASTRUCTURES - House Passes Stimulus Package
Washington,DC,USA -Traffic World, by Ari Natter -29 Sept 2008: -- A $60.8 billion economic stimulus package that includes billions of dollars for highway, bridge and other infrastructure construction passed in the House Friday... The bill provides $12.8 billion to the Department of Transportation for highway projects, $3.6 billion for transit, and $600 million for the Airport Improvement Program... Similar legislation stalled in the Senate on Friday...
* "Bailout" to provide excise exemption for APU purchasers
Washington,DC,USA -Land Line Magazine, by Charlie Morasch -October 2, 2008: -- It’s been called a bailout, a giveaway, and a way of avoiding an economic recession among other things, but the $700 billion congressional plan being considered this week would also benefit some truck drivers... The legislation, HR6049, includes an exemption to the excise tax on new APUs when they are bought with new trucks. The resolution – called the Renewable Energy and Job Creation Act of 2008 – has been rolled into the $700 billion bailout proposal... New truck purchases include a 12 percent excise tax, and new APU purchases with new trucks also include an excise tax equal to 12 percent of the APU’s retail price. With the provision rolled into the $700 billion bailout plan, buyers of new trucks wouldn’t owe the 12 percent excise tax normally applied to the APU...
Labels: governmental subsidies
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