New Federal Fuel Economy Standards To Bring More Efficient Vehicles and Economic Benefits to the U.S.
June 7, 2024 /3BL/ - The National Highway Traffic Safety Administration announced new federal fuel economy standards today, the latest action by the Biden administration to accelerate the transition to clean transportation. Ceres welcomed these standards, calling them key to meeting U.S. climate commitments and ensuring a strong and competitive U.S. economy.
“We applaud the final fuel economy standards, which are another decisive step on the road toward a clean transportation future,” said Michael Kodransky, senior director of transportation at Ceres. “Increasing transportation efficiency is critical to achieving the nation’s climate and economic goals, and we commend the Biden administration for taking on all-hands-on-deck approach to this challenge. These standards will lower costs for consumers, reduce pollution, and improve air quality — including in frontline communities — while also attracting private investment that will lead to good-paying jobs throughout the country.”
A 2021 Ceres analysis found that strong federal fuel economy standards carry critical benefits for the long-term economic health of the U.S. auto industry. According to the analysis, with strong standards in place, automakers operating in the U.S. will be more globally competitive and the industry, including suppliers, will see greater job growth.
“Thanks to the tax credits and strategic investments passed by Congress, the EPA’s vehicle emissions standards, and these new fuel economy standards, the U.S. is well-positioned to spearhead the global transition to clean transportation,” added Zach Friedman, director of federal policy at Ceres. “Together, these policies are fostering the necessary environment to maximize investment in America and revitalize manufacturing, supply chains, and job opportunities across the nation.”
About Ceres
Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and sustainable world. United under a shared vision, our powerful networks of investors and companies are proving sustainability is the bottom line—changing markets and sectors from the inside out. For more information, visit ceres.org.
Media Contact: Helen Booth-Tobin, booth-tobin@ceres.org, 617-247-0700 ext. 214
