Detroit Bureau on Twitter

Posts Tagged ‘green car fund’

GOP Scraps Plan to Cut into Federal Green Car Fund

Tesla now plans to ask for a second DoE loan.

by on Sep.27, 2011

A DoE loan has helped Tesla move ahead on the Model S but the start-up now hopes to get more cash.

A $25 billion fund created during the Bush Administration to help promote the development of clean, fuel-efficient automobiles has survived an assault by Republican lawmakers who had hoped to chip away $1.5 billion for use in disaster relief efforts.

Conservatives, particularly in the House, have been questioning the Department of Energy’s Advanced Technology Vehicle Manufacturing loan program since it was picked up and championed by the Obama Administration.  With the government running a deep deficit they’d hoped to divert some of the fund for relief efforts – including assistance to one of the key Republican’s own state.

Inside News!

But with the White House refusing to give in, that effort has been abandoned – for now.  With the program going slower than anticipated, even some clean car advocates are questioning its value and observers say the DoE program could yet face cuts – or even be killed off entirely as the budget debate drags on.