WASHINGTON (Sept. 22, 208) — Representatives of Goodyear, Continental Tire North America Inc., Bridgestone/Firestone, Gates Corp. and eight other automotive supplier firms visited the offices of more than 40 senators and U.S. representatives today to lobby for full funding of a $25 billion loan program.
Section 136 of last year's Energy Independence and Security Act authorizes direct loans to auto and auto parts makers to re-equip, expand or establish manufacturing facilities for advanced technology, fuel-efficient vehicles and equipment.
The company representatives urged Congress to vote for the full $25 billion in funding that EISA authorized for fiscal year 2009.
“This program, which already has been approved by Congress and the president, needs its full funding,” said Ann Wilson, senior vice president for the Motor & Equipment Manufacturers Association, in a press release. MEMA arranged the meetings between company officials and members of Congress.
“We strongly believe that this program will give auto makers and their suppliers a needed shot in the arm as we all try to meet the new fuel efficiency mandates,” Wilson said.
Besides Goodyear, Continental, BFS and Gates, the participating companies were Lear Corp., Robert Bosch U.S.A., Johnson Controls Inc., Delphi Corp., Visteon Corp., BorgWarner Inc., Honeywell Inc. and Sabic Innovative Plastics.