Standing Up for Michigan’s Auto Industry
On the night of December 11, 2008, politicians across the country were abandoning the American auto industry. Most were calling for the complete liquidation of the companies. But Senator Debbie Stabenow stood up in the crowded Senate chamber that night and gave an impassioned defense of the importance of manufacturing jobs. She said, "You cannot walk away from the American auto industry and not affect every part of manufacturing in this country."
In the weeks and months that followed, Senator Stabenow delivered for Michigan's automakers, suppliers, and working families. Thanks to her advocacy, and the efforts of thousands of talented men and women in the auto industry, last year saw the fastest job growth in the industry in a decade. All three of our auto companies are reporting profits and sales growth, making investments in facilities in Michigan and adding more jobs.
Consumer Tax Credits for Plug-In Electric Vehicles
Senator Stabenow worked to pass a $7,500 consumer tax credit for the first 200,000 electric vehicles sold per manufacturer. She also worked to pass a 30% tax credit for individuals and businesses who install electric charging stations, and a grant initiative to install charging stations nationwide.
Retooling Loans to Build Fuel Efficient Vehicles (Section 136)
Senator Stabenow authored a retooling loan program that authorized up to $25 billion in direct loans for the costs of re-equipping, expanding, and establishing manufacturing facilities in the U.S. to produce advanced technology vehicles and components for such vehicles. These funds are already being used to bring vehicle production back to the United States.
U.S. Production of Advanced Batteries and Components
Senator Stabenow fought to secure $2 billion to partner with companies to increase domestic production of advanced battery technologies, such as lithium ion batteries, hybrid electrical systems, and component and software design. Thanks to strong partnerships between automakers, suppliers, and universities, Michigan received more than half of the total funds available. As a result, while the United States produced only 2 percent of the world's advanced batteries in 2009, in just four years, the United States will produce 40 percent of the world's advanced batteries.
Cash for Clunkers
Senator Stabenow authored the Senate version of "Cash for Clunkers." She built a bipartisan coalition to pass and extend the legislation, which helped move nearly 700,000 cars off dealer lots during August 2009 and created 60,000 jobs nationwide. Economist Mark Zandi, former Economic Advisor to Sen. John McCain, called the program "very effective" and said it "ended the freefall in [the automotive] industry."
Advanced Energy Manufacturing Tax Credit (48C)
Senator Stabenow authored the Advanced Energy Manufacturing Tax Credit (48C) that provides tax credits of 30% for investments in new, expanded, or re-equipped advanced energy manufacturing projects. For example, Rogers Foam Automotive Corp. in Flint received $300,000 to manufacture a component to be used in the thermal management system of Lithium Ion Battery assemblies for electric vehicles.
