Provide tax credits for automakers to build fuel-efficient cars

Automakers get grant money to build efficient cars

Updated: Wednesday, December 9th, 2009 | By Catharine Richert

Part of President Barack Obama's environmental agenda involves improving fuel efficiency in cars.
 
Besides a major overhaul of car efficiency standards , the Obama administration has doled out money to car manufacturers and suppliers meant to help the ailing domestic industry overhaul facilities and processes to make more efficient cars.
 
Case in point: In August 2009, Obama announced $2.4 billion in stimulus package grants for better car batteries, plug-in hybrid technology and workforce training, among other things. For example, some of that money went to Navistar International Corp. in Elkhart, Ind., to make electric trucks.
 
So, Obama has clearly been subsidizing efforts to aid manufacturers of fuel-efficient vehicles. But so far, we've not seen an effort as specific as loan guarantees and tax credits. We'll keep an eye on this, but call it In the Works.

Sources: The White House, 24 Billion in Grants to Accelerate the Manufacturing and Deployment of the Next Generation of U.S. Batteries and Electric Vehicles , accessed Dec. 1, 2009