BREAKING: Senators reach agreement on CAFE standards
The new bill is a compromise of sorts, as a proposed annual 4% increase in the CAFE standards after they reach 35 mpg in 2020 was scrapped along with a $29 billion tax package that would have paid for tax breaks for producers of alternative fuels and owners of plug-in hybrids.
All is not over, as the larger energy bill will continued to be debated today, and then the bill will move over to the House of Representatives. If it passes through the House, there's no guarantee the president won't strike it down with his veto pen, as he's already stated he does not approve of specific mileage numbers. Nevertheless, yesterday's 65-27 vote was somewhat historic considering how effective the auto industry has lobbied against raising CAFE standards for decades.
[Source: Automotive News, AutoblogGreen]
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