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In February, Congressman Mike Rogers (D-MI) introduced this bill that targets the advancement of alternative fuel vehicles to help get America off its dependence on foreign oil.
The bill would provide loan guarantees of up to $20 billion to accelerate development and production of American-made alternative fuel vehicles. These loan guarantees would allow companies to borrow private funds for research, development and retooling for production.
The loan guarantees would apply to the following types of vehicles:
- Fuel-efficient gasoline vehicles
- Fuel-efficient diesel vehicles
- Flexible fuel vehicles that are capable of running on gasoline, or up to 85% ethanol
- Hybrid-electric vehicles
For more information, please visit:
- Congressman Roger's website
- Library of Congress - HR.1215
- The Detroit News - Bills target fuel rule costs
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