The Truth About Cars » barack obama http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Sat, 23 May 2015 15:11:46 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.2 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars » barack obama http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com Trans-Pacific Partnership Fears Hover Over Detroit Three http://www.thetruthaboutcars.com/2015/04/trans-pacific-partnership-fears-hover-detroit-three/ http://www.thetruthaboutcars.com/2015/04/trans-pacific-partnership-fears-hover-detroit-three/#comments Mon, 27 Apr 2015 17:00:15 +0000 http://www.thetruthaboutcars.com/?p=1055241 The Detroit Three are among those expressing concern over the Trans-Pacific Partnership free-trade agreement, specifically what it would do to the industry. Last week, both houses of Congress approved President Barack Obama’s request for an up-or-down vote to fast-track the free-trade agreement involving 12 nations and affecting 40 percent of the global economy, The Detroit […]

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Trans-Pacific Partnership Circa 2010

The Detroit Three are among those expressing concern over the Trans-Pacific Partnership free-trade agreement, specifically what it would do to the industry.

Last week, both houses of Congress approved President Barack Obama’s request for an up-or-down vote to fast-track the free-trade agreement involving 12 nations and affecting 40 percent of the global economy, The Detroit News reports. The urgency comes amid warnings that if the TPP isn’t put into effect as soon as possible, China, not the United States, would be the one creating similar trade deals.

Though the TPP has few fans among unions, activists, and most Democrats in Congress, the Detroit Three have their own concerns about the fast-tracking proposal: once enacted, the 2.5-percent tariff on cars and parts, as well as the infamous 25 percent “Chicken Tax” on imported light-duty trucks, would disappear over a period of time. The latter has been used to protect the domestic truck market by keeping competitors out unless the latter were willing to build trucks in the U.S.

According to the trio, were the tariffs – which they want to keep around for 25 more years at minimum – to disappear, and if Japan weakens its currency to better compete against them, domestic automakers would eventually be undercut by Japanese automakers. In turn, the Detroit Three would face considerable pressure to return fire, with those on the factory floor likely to be the hardest hit.

Another issue surrounding Japan is importation of U.S. vehicles, which the trio state has been difficult to accomplish over the years due to a number of trade barriers, tariffs not being among them as far as Japan’s importation policy is concerned. Japanese automakers counter that so few U.S. vehicles are imported annually because the Detroit Three haven’t made much of an effort to sell them to Japanese consumers in the first place. While the former has spent billions and employed thousands to build vehicles in the U.S., Detroit hasn’t done the same at all.

Currently, their lobbyists are working to add an enforceable currency provision to the TPP to protect Detroit’s standing. So far, the provision has yet to be added to the pact.

[Photo credit: Gobinero de Chile/Flickr]

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Wilson: $8B Stock Buyback Would Boost General Motors’ Value http://www.thetruthaboutcars.com/2015/02/wilson-8b-stock-buyback-boost-general-motors-value/ http://www.thetruthaboutcars.com/2015/02/wilson-8b-stock-buyback-boost-general-motors-value/#comments Wed, 11 Feb 2015 15:00:48 +0000 http://www.thetruthaboutcars.com/?p=996682 The man who helped General Motors restructure in 2009 now wants the automaker to buy back $8 billion in shares to help boost its value. Bloomberg reports Harry J. Wilson is asking to not only for a seat on GM’s board, but for the automaker to also agree to said buyback in June, with execution […]

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Maeva Advisors LLC Founder and CEO Harry Wilson Interview

The man who helped General Motors restructure in 2009 now wants the automaker to buy back $8 billion in shares to help boost its value.

Bloomberg reports Harry J. Wilson is asking to not only for a seat on GM’s board, but for the automaker to also agree to said buyback in June, with execution to take place the following year. The move is meant to provide more value for its shareholders, who are frustrated with the automaker’s reluctance to spend some of the $25 billion it has to withstand another recession if necessary.

Wilson believes the automaker could part with $8 billion and still withstand an economic blow like the one that landed it in bankruptcy court six years prior, and is working with four investment funds that hold a total of 34.4 million shares to help make it so. Wilson was tapped by President Barack Obama to help with GM’s restructuring during said bankruptcy.

That said, GM may still be reluctant to spend that much money. Per Morningstar senior equity analyst David Whiston, the company has to be careful amid a weak industry outside of North America. GM also faces the spectre of a large fine paid to the U.S. Department of Justice due to the former’s handling of the February 2014 ignition switch recall, as well as building up its lending arm GM Financial to boost the automaker’s credit rating.

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Congress Unsure On NHTSA Funding Increase http://www.thetruthaboutcars.com/2015/02/congress-unsure-nhtsa-funding-increase/ http://www.thetruthaboutcars.com/2015/02/congress-unsure-nhtsa-funding-increase/#comments Fri, 06 Feb 2015 14:00:52 +0000 http://www.thetruthaboutcars.com/?p=994242 Though the National Highway Traffic Safety Administration says funding is needed to boost staffing, some in Congress aren’t so sure on the proposal. The Detroit News reports the proposal, part of President Barack Obama’s FY 2016 budget plan, would triple the NHTSA’s funding from $10.7 million to $31 million, helping to boost the total staff […]

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United States Capitol

Though the National Highway Traffic Safety Administration says funding is needed to boost staffing, some in Congress aren’t so sure on the proposal.

The Detroit News reports the proposal, part of President Barack Obama’s FY 2016 budget plan, would triple the NHTSA’s funding from $10.7 million to $31 million, helping to boost the total staff of the agency’s Office of Defects Investigation to over 100 employees. Chair of the U.S. Senate Commerce Committee, Sen. John Thune of South Dakota, isn’t sure such an increase is necessary, however:

We think there are ways too that you could reform and accomplish some things (without higher funding). Clearly, we want to work with them, but it’s going to be tough in this budgetary environment with all the constraints that we’re dealing with to get significant increases in funding for any agency.

Thune adds that the NHTSA’s mission “is a awfully important one,” and wants to ensure the agency can do the job expected of it. Meanwhile, Sens. Claire McCaskill of Missouri and Bill Nelson of Florida both praised the increase in the agency’s budget, though McCaskill wants to see more done still. Sen. Richard Blumenthal of Connecticut adds that Congress should heed the call for a larger staff, and provide the NHTSA with “the most robust possible resources.”

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Foxx: NHTSA Needs Staffing Increase To Keep Pace With Recalls http://www.thetruthaboutcars.com/2015/02/foxx-nhtsa-needs-staffing-increase-keep-pace-recalls/ http://www.thetruthaboutcars.com/2015/02/foxx-nhtsa-needs-staffing-increase-keep-pace-recalls/#comments Fri, 06 Feb 2015 11:00:38 +0000 http://www.thetruthaboutcars.com/?p=994186 U.S. Transportation Secretary Anthony Foxx said on Tuesday the National Highway Traffic Safety Administration needs more staffing to keep pace with recalls. The Detroit News reports the secretary said as much during a brief conference call, asking for 56.5 new full-time positions and 57 people to keep up with the recalls: It’s no longer reasonable […]

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Japanese-government-weighs-in-on-Takata-airbag-debacle

U.S. Transportation Secretary Anthony Foxx said on Tuesday the National Highway Traffic Safety Administration needs more staffing to keep pace with recalls.

The Detroit News reports the secretary said as much during a brief conference call, asking for 56.5 new full-time positions and 57 people to keep up with the recalls:

It’s no longer reasonable frankly to expect an office with 8 screeners and 16 defects investigators to adequately analyze 75,000 complaints a year.

With the proposal from President Barack Obama’s FY 2016 budget plan that would triple funding of the NHTSA’s Office of Defects Investigation from $10.7 million to $31 million, the agency could bring aboard a mathematician, two statisticians, four investigators and 16 engineers to help fill the staffing gaps currently in play. Total staffing would climb above 100 personnel.

Additionally, the NHTSA would be able to use stronger methods of data mining and monitoring to develop a consumer awareness campaign to encourage owners to have their vehicles repaired, using integrated information pulled from social media, accident and fatality reports, medical records and manufacturing data to identify potential issues.

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Obama Budget Proposes Tax On Corporate Foreign Earnings For Roads http://www.thetruthaboutcars.com/2015/02/obama-budget-proposes-tax-corporate-foreign-earnings-roads/ http://www.thetruthaboutcars.com/2015/02/obama-budget-proposes-tax-corporate-foreign-earnings-roads/#comments Tue, 03 Feb 2015 11:00:49 +0000 http://www.thetruthaboutcars.com/?p=992842 President Barack Obama unveiled his annual budget Monday, which includes a proposition to tax corporate foreign earnings to fund the nation’s roads. Vox reports the proposal would levy a one-time tax on 14 percent of foreign earnings held by U.S. corporations, pulling in $238 billion to help supplement taxes collected at the pump. The collected […]

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Syracuse Road Construction - Utah DOT

President Barack Obama unveiled his annual budget Monday, which includes a proposition to tax corporate foreign earnings to fund the nation’s roads.

Vox reports the proposal would levy a one-time tax on 14 percent of foreign earnings held by U.S. corporations, pulling in $238 billion to help supplement taxes collected at the pump. The collected taxes would then be distributed into road infrastructure projects at a rate of $79.7 billion per year over the next six years, totalling $478 billion.

Meanwhile, Sens. Rand Paul of Kentucky and Barbara Boxer of California have both offered a “repatriation holiday” to said corporations, giving the latter a tax rate of 6.75 percent over five years on foreign earnings brought back to the United States. The taxes would then go into those projects.

However, such holidays have been frowned upon by Obama over his two terms, warning that corporations would lobby Congress for more tax holidays; the Joint Committee on Taxation found such holidays would lose money over a decade despite the short-term gain.

Another option, proposed by Rep. John Delaney of Maryland, would tax corporate foreign earnings at a rate of 8.75 percent while ending deferrals. The bill would collect $170 billion to be spent on roads for six years.

Whatever happens, a decision would have to be made within the next few months. The U.S. Highway Trust Fund will go empty once again if nothing is done by May 31 of this year, forcing Congress to make do with the gas taxes collected. Since most people are driving less and using more fuel-efficient vehicles to get around these days, those taxes — which haven’t been raised above 18.4 cents/gallon since 1993 — fall short of the $50 billion per year needed for infrastructure; the current rate is of collection is $34 billion/year.

Two options have been proposed to fix the main issue — increase the gas tax and then pegging it to inflation, or expand drilling on federal lands and collecting the royalties — but neither option is popular among most in the Beltway.

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Quote Of The Day: Obama – “Enjoy Cheap Gas, It Won’t Last” http://www.thetruthaboutcars.com/2015/01/quote-day-obama-enjoy-cheap-gas-wont-last/ http://www.thetruthaboutcars.com/2015/01/quote-day-obama-enjoy-cheap-gas-wont-last/#comments Wed, 07 Jan 2015 17:34:30 +0000 http://www.thetruthaboutcars.com/?p=973121 “I would strongly advise American consumers to continue to think about how you save money at the pump because it is good for the environment, it’s good for family pocketbooks and if you go back to old habits and suddenly gas is back at $3.50, you are going to not be real happy,”  -President Barack […]

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“I would strongly advise American consumers to continue to think about how you save money at the pump because it is good for the environment, it’s good for family pocketbooks and if you go back to old habits and suddenly gas is back at $3.50, you are going to not be real happy,” 

-President Barack Obama, speaking to the Detroit News before a visit to a Ford plant in Wayne, Michigan. The plant has recently been idled due to low demand for products built at the plant, like the Focus and C-Max Hybrid. Low gas prices are being blamed for slumping demand for small, fuel-efficient vehicles.

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Obama Visiting Ford Plant Wednesday Amid Temporary Closure http://www.thetruthaboutcars.com/2015/01/obama-visiting-ford-plant-wednesday-amid-temporary-closure/ http://www.thetruthaboutcars.com/2015/01/obama-visiting-ford-plant-wednesday-amid-temporary-closure/#comments Tue, 06 Jan 2015 13:00:55 +0000 http://www.thetruthaboutcars.com/?p=972082 President Barack Obama will be visiting the Ford Michigan Assembly Plant in Wayne, Mich. Wednesday, a plant currently closed due to low demand for both the Focus and C-Max. The Detroit News reports the president will be in Michigan for less than two hours that afternoon before jetting off to Phoenix to give a speech […]

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Barack Obama + Connected Vehicles

President Barack Obama will be visiting the Ford Michigan Assembly Plant in Wayne, Mich. Wednesday, a plant currently closed due to low demand for both the Focus and C-Max.

The Detroit News reports the president will be in Michigan for less than two hours that afternoon before jetting off to Phoenix to give a speech on the recovering housing market. Both Ford CEO Mark Fields and Chairman Bill Ford Jr. are expected to be in attendance; the company received $5.9 billion in low-cost government loans from the U.S. Energy Department in 2009 to help transition Michigan Assembly from SUV production to that of fuel-efficient small cars

Per the White House, his speech at the plant will focus upon “the workers in the resurgent American automotive and manufacturing sector now that the auto rescue has been completed and the decision to save the auto industry and the over one million jobs that went with it.”

Meanwhile, the plant’s closure is expected to be temporary, with its 5,100 employees receiving most of their standard pay in the interim. The closure is an extension of a two-week Christmas break at the plant, and is meant to help better manage supply as consumers, encouraged by falling fuel prices, look at F-150s and Explorers over smaller cars like the aforementioned Focus and C-Max.

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Takata Chairman In Hiding, Mexican Plant Increasing Airbag Production http://www.thetruthaboutcars.com/2014/11/takata-chairman-hiding-mexican-plant-increasing-airbag-production/ http://www.thetruthaboutcars.com/2014/11/takata-chairman-hiding-mexican-plant-increasing-airbag-production/#comments Fri, 14 Nov 2014 12:00:16 +0000 http://www.thetruthaboutcars.com/?p=945033 Takata’s chairman goes missing amid the company’s airbag recall crisis; the company boosts production of replacement modules at its Mexico plant; and the United States Senate plans to hold hearings regarding the airbag recalls, while also demanding a full reform of the National Highway Traffic Safety Administration over the agency’s role in both Takata’s and […]

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Takata Car Seats

Takata’s chairman goes missing amid the company’s airbag recall crisis; the company boosts production of replacement modules at its Mexico plant; and the United States Senate plans to hold hearings regarding the airbag recalls, while also demanding a full reform of the National Highway Traffic Safety Administration over the agency’s role in both Takata’s and General Motors’ respective recalls.

Autoblog reports Takata chairman and CEO Shigesha Takada — whose grandfather founded the company he currently helms — has not been seen since June of this year, giving only a published statement that Takata would work with authorities regarding the defective airbags. Takada won’t be turning up anytime soon, either; the company plans to send COO and president Stefan Stocker to an upcoming analyst briefing in place of the missing chair.

South of the border, Automotive News reports the supplier is adding two new production lines at its Monclova, Mexico facility to help boost supplies of replacement modules. The new lines are expected to go online in January, contributing to the 1.47 million units expected to ship out by February. Takata recently called upon competitors Autoliv and TRW Automotive to help with the production, though that could take months while the suppliers build, test and validate their respective contributions for use by Takata’s client base.

Over in the Beltway, the U.S. Senate Committee on Commerce, Science and Transportation will hold its first Takata hearing next Thursday, which will include testimony by the supplier, Honda and the NHTSA. The supplier also stated that it had received a subpoena from a federal grand jury in the U.S. District Court for the Southern District of New York, ordering it to produce documents related to the airbag recalls. This is in addition to the NHTSA’s own request for documents, which must be answered by December 1.

Speaking of the NHTSA, Edmunds reports Sens. Edward Markey of Massachusetts, Richard Blumenthal of Connecticut, and Bill Nelson of Florida sent a letter to President Barack Obama on Wednesday, urging him to initiate a full reform of the agency:

NHTSA must alter its practices to require automakers to publicly release more information about accidents that could be caused by safety defects, upgrade its own safety databases, and do a better job of enforcing compliance with transparency measures intended to provide early warnings about potentially danger defects to the public.

The senators are calling for an end to regional recalls in light of the Takata action, citing that affected vehicles could move into and out of regions where high humidity — the condition needed for catastrophic failure to occur — is prevalent, as well as for safety regulators to pull potentially dangerous vehicles “off the road,” such as those affected by the respective recalls by Toyota, General Motors and Takata.

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Ethanol Advocates Conduct Pre-Election Ad Campaign Blitz http://www.thetruthaboutcars.com/2014/10/ethanol-advocates-conduct-pre-election-ad-campaign-blitz/ http://www.thetruthaboutcars.com/2014/10/ethanol-advocates-conduct-pre-election-ad-campaign-blitz/#comments Tue, 28 Oct 2014 14:00:17 +0000 http://www.thetruthaboutcars.com/?p=936970 In less than a week, the B&B will head out to the polls to decide the direction the United States will take for the next two years. Big Ethanol, too, is interested in the direction taken. AutoblogGreen reports Fuels America, an advocate for the fuel source, is conducting a major advertising campaign to persuade the […]

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Ethanol Pump

In less than a week, the B&B will head out to the polls to decide the direction the United States will take for the next two years.

Big Ethanol, too, is interested in the direction taken.

AutoblogGreen reports Fuels America, an advocate for the fuel source, is conducting a major advertising campaign to persuade the Obama administration and the Environmental Protection Agency not to make cuts into the Renewable Fuels Standard, the mandate that makes E85, E10 and every other blend possible.

The blitz — which kicked-off last week — is being carried through Beltway media such as Politico, RollCall and WTOP-FM, and will continue until November 5.

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Sen. Reid Calls Upon Congress To Raise EV Tax Incentives http://www.thetruthaboutcars.com/2014/10/sen-reid-calls-upon-congress-raise-ev-tax-incentives/ http://www.thetruthaboutcars.com/2014/10/sen-reid-calls-upon-congress-raise-ev-tax-incentives/#comments Wed, 01 Oct 2014 10:00:16 +0000 http://www.thetruthaboutcars.com/?p=922273 For the past three years, President Barack Obama has called upon Congress to raise tax incentives for electric vehicles from $7,500 to $10,000, with those calls going unanswered. This year, the top Democrat in the U.S. Senate is taking the charge. The Detroit News reports Senate Majority Leader Henry Reid of Nevada pushed Congress to […]

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Harry Reid

For the past three years, President Barack Obama has called upon Congress to raise tax incentives for electric vehicles from $7,500 to $10,000, with those calls going unanswered.

This year, the top Democrat in the U.S. Senate is taking the charge.

The Detroit News reports Senate Majority Leader Henry Reid of Nevada pushed Congress to boost the incentives — and, therefore, EV sales — proclaiming the government needed to do more to encourage sales:

In order to truly promote innovation, we must as a Congress create opportunities for consumers to invest in advanced technologies, and we haven’t done that yet. We need more tax incentives for that. In 2008, we encouraged America to invest in the growth of the electric car industry with tax credits for qualified electric vehicles.

The extra $2,500 would provide dealers an opportunity to claim credits so long as they disclosed that info to their customers, which would then give said customers a chance to claim the credits at the point of sale, instead of filing a claim with their taxes the following year.

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Uber Hires Obama Campaign Manager, Senior Advisor David Plouffe http://www.thetruthaboutcars.com/2014/08/uber-hires-obama-campaign-manager-senior-advisor-david-plouffe/ http://www.thetruthaboutcars.com/2014/08/uber-hires-obama-campaign-manager-senior-advisor-david-plouffe/#comments Wed, 20 Aug 2014 12:00:57 +0000 http://www.thetruthaboutcars.com/?p=896794 In an effort to convince governments that its services are key to making transportation “as reliable as running water,” transportation network company Uber has hired the man who helped Barack Obama become President of the United States in 2008, David Plouffe. Forbes reports Plouffe will begin his role as the TNC’s senior vice president of […]

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David Plouffe and Barack Obama

In an effort to convince governments that its services are key to making transportation “as reliable as running water,” transportation network company Uber has hired the man who helped Barack Obama become President of the United States in 2008, David Plouffe.

Forbes reports Plouffe will begin his role as the TNC’s senior vice president of policy and strategy in September, with the goal of swaying legislators toward supporting the right for all TNCs to enter markets legally and with few operation restrictions.

As explained within a blog post by CEO Travis Kalanick regarding his hiring, the former campaign manager and Senior Advisor to the President after David Axelrod believes his new employer is a “once in a decade if not once in a generation company,” with the taxi industry standing in the way of success in the near-term:

As Uber succeeds like I believe it can, it will spur the creation of hundreds of thousands of small businesses and directly create millions of jobs; deliver rapid, easy and affordable transportation alternatives to workers, parents, businesses and people out having a good time; make our roads safer, drastically cutting down on drunk and distracted driving; and give those who choose not to purchase an automobile a more viable way to live their lives day to day.

Uber also hired Ashwini Chhabra away from the New York City Taxi and Limousine Commission in May, where he worked as deputy commissioner of policy and planning. Chhabra serves as the TNC’s policy development chief.

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Obama Talks Connected Vehicles, Highway Funding http://www.thetruthaboutcars.com/2014/07/obama-talks-connected-vehicles-highway-funding/ http://www.thetruthaboutcars.com/2014/07/obama-talks-connected-vehicles-highway-funding/#comments Wed, 16 Jul 2014 10:00:06 +0000 http://www.thetruthaboutcars.com/?p=866778 Amid touring the Turner-Fairbank Highway Research Center in McLean, Va. and having a go at a driving simulator based upon a Saturn SL, President Barack Obama talked about connected vehicles and increasing highway funding before reporters in attendance Tuesday. Autoblog and Bloomberg report the President spoke for 14 minutes on both subjects, though the majority […]

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Barack Obama + Connected Vehicles

Amid touring the Turner-Fairbank Highway Research Center in McLean, Va. and having a go at a driving simulator based upon a Saturn SL, President Barack Obama talked about connected vehicles and increasing highway funding before reporters in attendance Tuesday.

Autoblog and Bloomberg report the President spoke for 14 minutes on both subjects, though the majority of his speech focused upon the U.S. Highway Trust Fund. Obama warned that if Congress fails to come to a decision as to how the trust will be funded, 700,000 jobs and 100,000 active projects could be shuttered when the well runs dry next month. He offered some praise regarding bipartisan bills in both houses offering a solution, though Obama urged Congress to focus on the long term instead of “kicking the can down the road for a few months.”

On the connected vehicle front, he proclaimed his support for any new technology that could improve driver safety, referencing his 16-year-old daughter Malia alongside results of a study where 5.5 billion hours and $120 billion in time and fuel are lost annually due to traffic congestion. Obama also joked about his brief ride in the aforementioned simulator, finding the experience disorienting in relation to his diminishing driving experience.

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Japan Three, Others Meet With President Over Supplier Aid Pledge http://www.thetruthaboutcars.com/2014/07/japan-three-others-meet-with-president-over-supplier-aid-pledge/ http://www.thetruthaboutcars.com/2014/07/japan-three-others-meet-with-president-over-supplier-aid-pledge/#comments Mon, 14 Jul 2014 13:00:56 +0000 http://www.thetruthaboutcars.com/?p=865777 A number of U.S. and multinational corporations met with President Barack Obama Friday to shine a light upon their pledge to pay their suppliers within 15 days as part of an initiative to help small businesses expand and bring on more employees. Automotive News reports representatives for Nissan, Toyota and Honda, including Honda North America […]

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Barack Obama playing pool

A number of U.S. and multinational corporations met with President Barack Obama Friday to shine a light upon their pledge to pay their suppliers within 15 days as part of an initiative to help small businesses expand and bring on more employees.

Automotive News reports representatives for Nissan, Toyota and Honda, including Honda North America executive vice president Rick Schostek, were in attendance for the 90-minute meeting about the pledge, based upon a similar program with government contractors, whereupon the federal government promises to quickly pay its contractors if the latter does the same for the smaller suppliers that help them.

The original initiative affected 172,000 small businesses, bringing $1 billion for workforce investment since its launch in 2011. Friday’s meeting was to reaffirm the pledge, as well as to introduce the program to the public sector.

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Obama Administration Delivers $302 Billion Transportation Funding Proposal Before Congress http://www.thetruthaboutcars.com/2014/04/obama-administration-delivers-302-billion-transportation-funding-proposal-before-congress/ http://www.thetruthaboutcars.com/2014/04/obama-administration-delivers-302-billion-transportation-funding-proposal-before-congress/#comments Wed, 30 Apr 2014 11:00:52 +0000 http://www.thetruthaboutcars.com/?p=812826 A $302 billion, four-year plan to fund the U.S. Highway Trust Fund — and, in turn, any road and transit projects on the table during the period — was brought before Congress by the Obama administration through the U.S. Department of Transportation. Bloomberg Businessweek reports the proposal would add $87 billion on top of what […]

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Syracuse Road Construction - Utah DOT

A $302 billion, four-year plan to fund the U.S. Highway Trust Fund — and, in turn, any road and transit projects on the table during the period — was brought before Congress by the Obama administration through the U.S. Department of Transportation.

Bloomberg Businessweek reports the proposal would add $87 billion on top of what is currently in the trust fund in order to bring much-needed dollars to the many bridges and transit systems seeking rehabilitation while creating “millions of jobs” and, thus, boosting the economy, according to Transportation Secretary Anthony Foxx. The fund, currently subsisting on gasoline and diesel taxes, would be funded by a temporary tax increase on overseas earnings by companies, which is the method proposed by President Barack Obama back in February 2014 in his budget request.

Meanwhile, both houses of Congress are seeking six-year funding proposals, though none have any financial resources to draw upon thus far. Further, lawmakers on both sides of the aisle have claimed there currently are not enough votes to raise the 18.4-cent tax levied per gallon of gasoline to boost the trust fund’s coffers. One such proposal, made in 2012, failed due to being unable to decide upon a funding source, resulting in a two-year stop-gap measure funded through general tax revenue to keep construction projects moving forward.

The proposal also requested an increase in the National Highway Traffic Safety Administration’s maximum fine for automakers who fail to issue recall notices on defective vehicles in a timely manner. The current maximum fine of $35 million would rise to $300 million “to ensure when a violation occurs it is more than a rounding error,” Foxx explained.

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Obama Proposes $2-Billion Fund For Alternative Fuel Vehicles, No Mention Of Hydrogen http://www.thetruthaboutcars.com/2013/03/obama-proposes-2-billion-fund-for-alternative-fuel-vehicles-no-mention-of-hydrogen/ http://www.thetruthaboutcars.com/2013/03/obama-proposes-2-billion-fund-for-alternative-fuel-vehicles-no-mention-of-hydrogen/#comments Fri, 15 Mar 2013 22:07:53 +0000 http://www.thetruthaboutcars.com/?p=481408 “The only way to break this cycle of spiking gas prices — the only way to break that cycle for good — is to shift our cars entirely, our cars and trucks, off oil,” So said President Obama during a speech in Illinois, where he outlined a plan to provide $200 million a year for […]

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“The only way to break this cycle of spiking gas prices — the only way to break that cycle for good — is to shift our cars entirely, our cars and trucks, off oil,”

So said President Obama during a speech in Illinois, where he outlined a plan to provide $200 million a year for 10 years to a fund that would promote the development of alternative fuel vehicles. The funds would be provided by royalties from oil drilling on the Out Continental Shelf.

One notable omission from his remarks was the absence of any mention of hydrogen vehicles. Using his noted flair for rhetoric, Obama laid out his vision petroleum-free future while ignoring the fact that multiple OEMs are gearing up for a big push into fuel-cell technology

We can support scientists who are designing new engines that are more energy efficient; support scientists that are developing cheaper batteries that can go farther on a single charge; support scientists and engineers that are devising new ways to fuel our cars and trucks with new sources of clean energy — like advanced biofuels and natural gas — so drivers can one day go coast to coast without using a drop of oil.

One insider suggested that the lack of love for hydrogen has been a result of “not invented here syndrome” that is a hold over of the Bush 43 administration. While Dubya was fond of hydrogen as an alternative fuel, Obama and former Energy Secretary Steven Chu are said to be unfriendly, bordering on hostile, to the idea of hydrogen fuel cells. Unfortunately, many feel that a government partnership with the private sector will be the key to a hydrogen infrastructure breakthrough – but those parties feel that this is more likely than a cost effective, right-sized battery pack capable for a 500 mile range.

 

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President Obama Says New CAFE Standards Will Save Average Driver $8,000 a Year. http://www.thetruthaboutcars.com/2012/03/president-obama-says-new-cafe-standards-will-save-average-driver-8000-a-year/ http://www.thetruthaboutcars.com/2012/03/president-obama-says-new-cafe-standards-will-save-average-driver-8000-a-year/#comments Thu, 15 Mar 2012 15:23:37 +0000 http://www.thetruthaboutcars.com/?p=435096 Last week in a speech at Daimler owned Freightliner truck plant, President Obama said that the new 55mpg CAFE standards will save a typical American family $8,000 a year on gasoline. That would be great news to most American drivers if it were true but the president took political science and law courses in college, […]

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Last week in a speech at Daimler owned Freightliner truck plant, President Obama said that the new 55mpg CAFE standards will save a typical American family $8,000 a year on gasoline. That would be great news to most American drivers if it were true but the president took political science and law courses in college, not math. Or maybe his math isn’t off.

“When I ran for office, I went to Detroit and I gave a speech to automakers where I promised that I was going to raise fuel standards on our cars, so that they’d go further on a gallon of gas.  I said we should do the same thing on trucks.  I have to tell you, when I said it, I didn’t get a lot of applause in the room, because there was a time when automakers were resisting higher fuel standards — because change isn’t easy.  But you know what, after three decades of not doing anything, we got together with the oil companies, we got together with the unions, we got together with folks who usually do not see eye to eye, and we negotiated new fuel economy standards that are going to make sure our cars average nearly 55 miles per gallon by the middle of the next decade.  That’s nearly double what they get today — nearly double.  (Applause.)

Now, because of these new standards for cars and trucks, they’re going to — all going to be able to go further and use less fuel every year.  And that means pretty soon you’ll be able to fill up your car every two weeks instead of every week -– and, over time, that saves you, a typical family, about $8,000 a year.”

A typical American family can’t save $8,000 a year on gas because a typical family in American doesn’t spend that much on gas a year in the first place. Using the president’s math, the average car gets 55/2=27.5mpg. The average driver drives about 12,000 miles per year, which works out to 436 gallons @ 27.5 mpg. Even at $4/gallon, that’s still only $1745/year. Cutting that hypothetical typical American driver’s gasoline bill in half will save $872.72 a year, not $8,000.

Reading over the transcript of the president’s remarks it’s possible the he simply misspoke. According to estimates, the new CAFE standards will save about $8,200 over the life of the vehicle, not in one year. Earlier in the speech Obama praised Freightliner’s participation in the federal “SuperTruck” initiative, whose target is saving $15,000/year per large truck. A big over the road truck travels so many miles in a year that a significant improvement in fuel economy could save that much. A typical American family, though, doesn’t drive their car 100,000 miles a year. So maybe the president confused savings per year with savings over the life of the vehicle and didn’t just make a bad math error.

On the other hand, there is one way that the president’s math works out. His recent press conference remarks about rising gas prices not being good for him politically are true. However, the president is talking about the savings that will take place in “the middle of the next decade”, meaning 2025, thirteen years hence, when he’ll be long out of office and earning six figure honoraria for his speeches. An average family could indeed save $8,000 a year if gasoline rises to $37/gal by 2025. While I believe that the president’s policies are aimed at making traditional energy more expensive in order to make alternative energy more financially viable, I sincerely doubt that even he would want a nine fold increase in the price of gasoline over the next decade.

Ronnie Schreiber edits Cars In Depth, a realistic perspective on cars & car culture and the original 3D car site. If you found this post worthwhile, you can dig deeper at Cars In Depth. If the 3D thing freaks you out, don’t worry, all the photo and video players in use at the site have mono options. Thanks for reading– RJS

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Mitt Romney Pens Detroit News Op-Ed On Big Three Bailout http://www.thetruthaboutcars.com/2012/02/mitt-romney-pens-detroit-news-op-ed-on-big-three-bailout/ http://www.thetruthaboutcars.com/2012/02/mitt-romney-pens-detroit-news-op-ed-on-big-three-bailout/#comments Tue, 14 Feb 2012 20:36:41 +0000 http://www.thetruthaboutcars.com/?p=430874 Republican Presidential candidate Mitt Romney published an op-ed in the Detroit News calling the auto bailout “crony capitalism on a grand scale.” Boasting of his Michigan roots, Romney takes the Obama administration and the UAW to task for what he suggests is a symbiotic relationship between the two that allowed the union to get stakes […]

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Republican Presidential candidate Mitt Romney published an op-ed in the Detroit News calling the auto bailout “crony capitalism on a grand scale.” Boasting of his Michigan roots, Romney takes the Obama administration and the UAW to task for what he suggests is a symbiotic relationship between the two that allowed the union to get stakes in GM and Chrysler. In short, nothing new from the man who is running an election that is a referendum on Obama’s presidency.

Readers of TTAC will recognize that Romney’s explanation of the bailout and his own suggests are a sort of “For Dummies” executive summary of what went on, and his suggestions for improvement, like the feel good rhetoric about the resurgence of the Motor City are nothing we haven’t heard before. Buried towards the end is the one major piece of the article, with Romney suggesting

The shares  [in General Motors belonging to the Treasury] need to be sold in a responsible fashion and the proceeds turned over to the nation’s taxpayers

 

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Trade War Watch 8: China Probes US Bailout http://www.thetruthaboutcars.com/2009/11/trade-war-watch-8-china-probes-us-bailout/ http://www.thetruthaboutcars.com/2009/11/trade-war-watch-8-china-probes-us-bailout/#comments Tue, 17 Nov 2009 10:40:21 +0000 http://www.thetruthaboutcars.com/?p=335847 As U.S. President Barack Obama landed in Shanghai for a weeklong visit to his largest creditor, China, the news awaited him that China’s Ministry of Commerce will investigate the U.S. government’s financing and rescue plans for the American auto industry, Shanghai Daily reports. The move is part of China’s probe into possible dumping and subsidies […]

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Bail! Picture missinginaction.be

As U.S. President Barack Obama landed in Shanghai for a weeklong visit to his largest creditor, China, the news awaited him that China’s Ministry of Commerce will investigate the U.S. government’s financing and rescue plans for the American auto industry, Shanghai Daily reports.

The move is part of China’s probe into possible dumping and subsidies on U.S.-made vehicles imported to China, the ministry said. Trade officials will be looking for dumping practices and for unfair government subsidies.

Ministry spokesman Yao Jian said China’s probe will look into 24 items which include the U.S. government’s rescue and restructuring plans for the auto industry as well as government subsidies on new-energy vehicles and its “cash-for-clunkers” incentive program.

The concerned U.S. automakers have the right to defend themselves with evidence presented to Chinese investigators by registering within 20 days after China started the probe of U.S. auto imports on November 6, and corrective action must be taken within 60 days after a case is registered.

The investigation applies to sedans and off-road vehicles with engine displacements of 2.0 liters or more, and the whole process of the probe and ruling is expected to be completed within 12 months.

The probe is widely seen as a tit-for-tat measure after Obama imposed punitive tariffs on Chinese tires and steel pipes. These investigation have become a common occurrence: The U.S. has carried out 13 investigations against Chinese products this year for alleged dumping and illegal subsidies.

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