Manzullo Continues Pushing Car Purchase Credit in Washington

The press release below was sent by 16th District Congressman Don Manzullo:

Manzullo to Offer Tax Credit for New Vehicle Purchases as Amendment to House Stimulus Bill

(WASHINGTON) As the U.S. House prepares to vote this week on a flawed $825 billion bill that does little to put Americans back to work, Congressman Don Manzullo (R-IL) is offering an amendment to stimulate the economy and create jobs by giving Americans a $5,000 tax credit to purchase a new vehicle.

With 13 million Americans employed by the automobile industry and its suppliers, Manzullo’s tax credit amendment – which he offered as a stand-alone bill (The Get America Moving Again Act — HR 550) earlier this month – would immediately stimulate vehicle sales and put millions of Americans back to work. The automobile industry accounts for 20 percent of all U.S. retail sales, and billions of dollars in state and local sales taxes.

The drop in U.S. vehicle sales from 16.2 million in 2007 to 10.5 million in 2008 removed $175 billion directly from our economy and has been one of the leading causes of America’s economic downturn and huge job losses.

“The current stimulus bill is chocked full of spending that has nothing to do with stimulating the economy or creating jobs, including hundreds of millions of dollars for contraceptives, the National Endowment for the Arts, and laying new sod on the National Mall,” Manzullo said.

“My vehicle tax credit proposal is a real stimulus that will bolster vehicle sales, put Americans back to work, and re-ignite our economy. I urge my colleagues to support this amendment so we can get America moving again.”

Manzullo is scheduled to testify later today before the House Rules Committee to seek approval to offer his amendment for a vote on the House floor tomorrow. The Rules Committee determines whether amendments are allowed to proceed to the floor for votes.

The Get America Moving Again Act of 2009 (HR 550) would bolster American manufacturing and spur vehicle sales and production by giving Americans tax credits of $5,000 to purchase a new vehicle costing less than $50,000 and $2,000 to purchase a late model used vehicle through Dec. 31, 2009.

The bill is co-sponsored by Rep. Fred Upton (R-MI), co-chair of the House Auto Caucus, and is supported by the American International Automobile Dealers Association and Chrysler.

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