INTRODUCING THE ENERGY EFFICIENT AND ENVIRONMENTALLY FRIENDLY AUTOMOBILE TAX CREDIT ACT
Not linked on Ron Paul’s Congressional Website.
HON. RON PAUL
OF TEXAS
IN THE HOUSE OF REPRESENTATIVES
Thursday, March 26, 2009
2009 Ron Paul 38:1
Mr. PAUL. Madam Speaker, I rise today to
introduce the Energy Efficient and Environmentally
Friendly Automobile Tax Credit Act,
legislation that will help Americans reduce pollution
and the amount they pay for gas. My
legislation accomplishes these important goals
by providing Americans a tax credit of up to
$2,000 when they sell or trade in a car and
obtain a vehicle that has at least a 20% higher
average fuel economy than the sold or traded-
in car. The bill also creates a federal tax deduction
for any state or local taxes paid on the
purchase of the more fuel-efficient automobile
and makes interest on loans to purchase the
more fuel-efficient automobile tax deductible.
2009 Ron Paul 38:2
This legislation will help Americans reduce
the amount they pay to fill up their cars by
making it easier for them to obtain more fuel-
efficient cars. I hope my colleagues would
agree that Congress should provide free market
incentives to make it easier for Americans
to exchange their current cars for cars that
create less pollution.
2009 Ron Paul 38:3
Providing tax deductions and tax credits to
make it easier for Americans to purchase fuel-
efficient automobiles is a win for American
consumers, a win for the environment, and a
win for those of us who favor free market solutions
to pollution and high gas prices. I urge
my colleagues to support this legislation.
