Senator Bernie Moreno claims new legislation will lower car prices

The bill (co-sponsored by GOP Senators Jim Banks, Tim Sheehy and Jim Justice) has received support from automakers and trade associations. (2 min. read)

Car dealer turned U.S. Senator Bernie Moreno (R-Ohio) introduced one of his first automotive-related pieces of legislation yesterday—a bill called the Transportation Freedom Act.

Zooming in: First shared with The Washington Examiner, the bill aims to accomplish the following:

  • Provide eligible automakers with a 200% tax deduction for wages paid to U.S. auto workers (up to $150,000 per worker) and prevent companies from using the savings on stock buybacks. 

  • Revoke California’s waiver under the Advanced Clean Cars II program—which requires all new passenger cars and trucks sold in the state to be emissions-free by 2035.

  • Replace Corporate Average Fuel Economy (CAFE) standards with new fuel efficiency and emissions rules for 2027-2035 so automakers can gain what Moreno describes as regulatory stability.

Why it matters: Moreno says all together—this bill will save consumers and the federal government significant sums of money by simplifying the auto industry’s regulatory process—resulting in fewer fines and costly production pivots for automakers.

What they’re saying: “Thanks to liberal bureaucrats who want to mandate what cars Americans can drive, states like mine are riddled with car lots filled with expensive EVs people simply don’t want and dormant factories that once employed millions of American workers,” Moreno said.

And so far—the bill (co-sponsored by GOP Senators Jim Banks, Tim Sheehy and Jim Justice) has received support from automakers and trade associations. 

A statement from Toyota executive Mark Templin called Moreno’s bill a “commonsense approach that will provide regulatory predictability.”

“The auto industry has been whipsawed by shifting emission regulations for decades,” Templin added. “These swings have hurt auto companies, auto dealers and auto workers, ultimately driving up the cost of automobiles in America.”

Chris Spear, President and CEO of American Trucking Associations said, “said Moreno’s legislation “will prevent price hikes for consumers, allow innovation to flourish, and foster achievable national standards that put us back on the path to lowering emissions without causing supply chain disruptions.”

Become an automotive insider in just 5 minutes.

Get the weekly email that delivers transparent insights into the car market.

Join 90,000+ others now, it's free:

Experian Automotive discovered that 61% of dealer files have data issues, including outdated vehicle ownership, incorrect names and addresses, or wrong email addresses.

Life changes, such as new jobs, homes, or children, can make it challenging to keep up with your customers.

The solution? Ensure your data is accurate! Experian Automotive's first-party data management solution helps clean, verify, and enrich customer data, maximizing your marketing efforts.

By maintaining accurate data, you can better connect with your customers and stay ahead in the competitive automotive market.

Don't let data hygiene issues hold you back—take the first step towards better customer engagement with Experian Automotive's comprehensive first-party data management solutions!

Reply

or to participate.