Number: RL34743
Title: Federal Loans to the Auto Industry Under the Energy Independence and Security Act
Authors: Stephen Cooney and Brent D. Yacobucci, Resources, Science, and Industry Division 
Abstract: U.S. automakers are facing a myriad of unfavorable conditions, including a worsening economy and credit crunch that have dampened consumers' demand for new vehicles, high legacy costs, increased competition from foreign automakers, and stricter Corporate Average Fuel Economy (CAFE) standards. The last concern - the regulatory cost of higher fuel economy standards - led Congress to consider various federal programs, including grants and loans, to help automakers with the increased cost to comply with the new standards.
Pages: 24
Date: November 13, 2008