Bono Votes to Raise CAFE Standards
Also praises the inclusion of Alternative Minimum Tax relief in final Tax Measure
Working to lower the cost of gasoline for consumers, Congresswoman Mary Bono (CA-45) voted today in favor of an amendment that would raise Corporate Average Fuel Economy (CAFE) standards on cars. The amendment would ensure that the average fuel economy achieved by automobiles (including passenger and non-passenger automobiles) manufactured by a manufacturer after model year 2015 is not less than 33 miles per gallon. The amendment failed today in the House Energy and Commerce Committee.
"I think it is time that we challenge the auto industry to do better," said Congresswoman Bono. "We should not underestimate America's ingenuity to get our cars to this standard in a safe manner. This is a country that put a man on the moon so to think the smartest engineers in the world can't get us to this goal sorely undervalues the intelligence and sheer "know how" our country is known for.
"Henry Ford was a man before his time, so I think he would be the first one to roll up his sleeves and go to work in solving this problem. A challenge is a good thing. It gives us something to strive for. So Congress must challenge the auto industry to rise above the doubts associated with our ability to do this. Our country not only needs it, but must demand it."
Bono also praised the inclusion of Alternative Minimum Tax relief for 2006 in the final version of the Tax Relief Reconciliation Act of 2006. The Tax Relief Reconciliation Act of 2006 passed on the floor of the House of Representatives today.
"The AMT was created to ensure that all taxpayers, especially high-income taxpayers, paid at least a minimum amount of federal taxes," said Congresswoman Bono. "However, while income tax brackets, exemptions and standard deductions are adjusted annually for inflation, the AMT is not. This disparity has greatly expanded the impact of the AMT to middle-income taxpayers. As many people's incomes have grown in pace with the economy, this stealth tax unexpectedly hits an increased number of families each year.
"This patch is an important protection for taxpayers in 2006; however it is only a temporary fix. Congress will need to achieve a sensible long-term solution to the inequality created by the AMT problem to spare the middle class unjust AMT taxation in the future."