WASHINGTON -- The Senate has approved a streamlined energy bill that will raise vehicle fuel economy standards 40 percent to 35 mpg by 2020.
The Senate voted 86-8 Thursday night for the measure.
The phase-in of higher standards for cars and light trucks would begin with the 2011 model year. It would be the first congressionally mandated hike in the corporate average fuel economy program, or CAFE, since its creation in 1975.

Senate approval came after Democratic leaders bowed to veto threats by President Bush. They removed tax hikes and provisions to require utilities to use more renewable fuels.

The measure is expected to get a final vote of approval by the House of Representatives next week and then be signed into law by President Bush.

 

That sucks, I hope Bush still vetos the bill.

 

They wanted to remove subsidies to big oil (who has been making record profits) and the republicans made them cut that part out

With out the tax subsidies to big oil they probably would need this bill. $4-$5 gas would have the consumers demanding better mileage and smaller cars would probably be profitable for the big 3. Instead or Ford working to make a 500HP Mustang they could be working to make a 3000lbs. Mustang.

He won't because this helps the oil companies and make Detroit look like the enemy.

 

Dammit. I'm okay with the Fuel economy part. but not the big oil crap...why can't the democrats (the side I like) grow a backbone. This is going to be a bar that makes or breaks the big three. GM's safe, I should say...but I worried about the other two.

 

So when are they gonna raise the CAFE on coal fueled electricity plants?

 

Yeh, the big 3 need the help, not the oil companies.

 

He will.

 

Imagine if they had to cut their spending by 40%................by 2020, lol

 

Actually no he won't

"The bill now goes to the House, where a vote is expected next week. The White House issued a statement saying President Bush will sign the legislation if it reaches his desk, as is expected. Bush had promised a veto if the oil industry taxes were not removed."

http://biz.yahoo.com/ap/071214/congress_energy.html

 

QFMFT.

CAFE is a giant, steaming deuce on the steps of capital hill.

B@stards.

 

How does this help the oil companies?

He was threatening to veto when there were tax hikes for oil companies; those have been removed. As far as I can tell, the oil companies will only be hurt by this bill (since we'll be using less oil).

 

It helps them by keeping tax subsidies in place. Big Oil clearly doesn't need any tax breaks yet they keep getting them.

 

Oil companies dont care if they get taxed...they'll just pass it all over to you and me by much higher prices @ the pump...taxes wont hurt them at all.

 

Higher price means you buy less. You buy less that means less profit.

 

If they don't care, why are their lobbyists making such a stink over this?