Today the House will continue consideration of the Energy and Water Appropriations Act of 2012. This is where Uncle Sam tells the Department of Energy where and how it can spend its money. What does that mean for the automotive world? Money and lots of it! Most of the money for auto makers comes in the form of loans and grants.
Conservatives, acting on behalf of their constituents, have adopted a slash-and-burn approach to funding agencies this year. The amendments are a smorgasbord of “reduce this” and “defund that” measures. Like previous appropriations considered this year, the Energy and Water Appropriations Act will be considered under an open rule. In other words, instead of a small number of members hiding behind the Rules Committee gavel dictating what should and shouldn’t be brought to the floor, every amendment germane to the legislation will be given time on the floor for debate and consideration. Now that I’ve given you a quick piece of parliamentary procedures – let’s talk Benjamins!
The total piece of legislation comes in at just over $30 billion buckaroos, which is $5.9b less than El Presidente Obama has asked for, all of which comes directly from DOE. A summary of the bill with funding tables can be found here. Below are provisions of interest to the automotive world at large: [Read more...]