In addition to the successful bridge loans there are five other major Obama administration policies that helped the auto industry and the nation by creating jobs, reducing oil use, saving families money, and cutting pollution:
Fuel-economy and carbon-pollution standards for 2012 to 2016 model cars sparked job growth in automobile manufacturing and increased automobile sales.
Fuel-economy and carbon-pollution standards for 2017 to 2025 model cars will double their fuel economy and reduce oil use by 2 million barrels per day.
The Recovery Act invested in fuel-efficient vehicle research and development to spur job growth and increase international competitiveness.
Federal loans helped convert factories to the production of fuel-efficient vehicles.
The “Cash for Clunkers” program increased vehicle efficiency and helped save the auto industry by jump starting demand during the depths of the Great Recession.
We review these below.
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