[Congressional Record Volume 155, Number 52 (Thursday, March 26, 2009)]
[Extensions of Remarks]
[Page E790]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




     INTRODUCING THE ENERGY EFFICIENT AND ENVIRONMENTALLY FRIENDLY 
                       AUTOMOBILE TAX CREDIT ACT

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                             HON. RON PAUL

                                of texas

                    in the house of representatives

                        Thursday, March 26, 2009

  Mr. PAUL. Madam Speaker, I rise today to introduce the Energy 
Efficient and Environmentally Friendly Automobile Tax Credit Act, 
legislation that will help Americans reduce pollution and the amount 
they pay for gas. My legislation accomplishes these important goals by 
providing Americans a tax credit of up to $2,000 when they sell or 
trade in a car and obtain a vehicle that has at least a 20% higher 
average fuel economy than the sold or traded-in car. The bill also 
creates a federal tax deduction for any state or local taxes paid on 
the purchase of the more fuel-efficient automobile and makes interest 
on loans to purchase the more fuel-efficient automobile tax deductible.
  This legislation will help Americans reduce the amount they pay to 
fill up their cars by making it easier for them to obtain more fuel-
efficient cars. I hope my colleagues would agree that Congress should 
provide free market incentives to make it easier for Americans to 
exchange their current cars for cars that create less pollution.
  Providing tax deductions and tax credits to make it easier for 
Americans to purchase fuel-efficient automobiles is a win for American 
consumers, a win for the environment, and a win for those of us who 
favor free market solutions to pollution and high gas prices. I urge my 
colleagues to support this legislation.

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