New Congress wants to create a Green fund and rollback of oil tax cuts

The Democrats now controlling congress have some big plans for the first few weeks, some of which will affect the auto industry and the environment. According the American International Automobile Dealers Association, they plan to establish a dedicated fund for conservation and renewable energy projects, that will be funded by repealing subsidies given to oil companies by previous Republican congresses. The Interior Dept is trying to rework drilling leases that let companies avoid paying billions of dollars in royalties for drilling on federal land. The Democrats also want to reduce the corporate tax rates on profits earned from US manufactured goods to encourage manufacturing here.

[Source: TheAutoChannel]