This week a bipartisan group of Senators announced they reached a tentative agreement on the framework of an infrastructure package, one of the priorities of the Biden Administration. The $1.2 trillion agreement would include $7.5 billion to fund a network of 500,000 EV charging stations across the country, including in rural and lower income areas. The infrastructure package will still likely face opposition from both sides of the aisle in Congress.
Also this week, calls for the administration to grow ties with Asia increased following the President’s recent trip to Europe to strengthen alliances there. The Senate Finance Subcommittee on International Trade, Customs and Global Competitiveness held a hearing on the topic on Wednesday and House Way and at an event this week Means Committee Ranking Member Kevin Brady (R-TX) also called for the administration to engage with Asia and work with Congress to pursue free and fair trade agreements in the region. The growing chorus comes as the U.K begins negotiating to join the Trans Pacific Partnership (TPP), and China, whose economic power in the region the TPP was originally intended to counter balance, steps up efforts to join as well. The U.S. pulled out of the agreement in 2017, and the Biden Administration has not, as of yet, shown much desire to rejoin.
ICYMI
In the newest episode of Beltway Talk and latest installment from Dealers Make An Impact, Jim Appleton, President of the New Jersey Coalition of Auto Retailers (NJCAR), shares some insight into how New Jersey auto dealers have weathered the past year, the many ways in which they have stepped up to serve their communities, and why he believes advocacy is key to their future.
Dealers Make an Impact is an effort to encourage dealers, dealership employees, and industry partners to engage with Congress to show how Dealers Make An Impact on their communities, and how, even without flying in to DC, dealers can make an impact on decisions in Washington right from their dealership floor.
CALL TO ACTION: EVs
Proposed Senate legislation would add an additional $2,500 in tax credits for cars built in the U.S., and another $2,500 for cars built in the U.S. at facilities represented by unionized labor. Favoring union-built vehicles over other vehicles built in the U.S. has no value to the environment, and the motivation behind such an incentive can be nothing less than political favoritism. AIADA Chairman Steve Gates issued a call to action in his latest blog urging dealers to contact their Members of Congress and urge them to oppose this un-American proposal. If you haven’t already, take action today!
Quote of the Week
“China has become an indisputable and challenging force. It is now the largest trading partner of all 11 of East Asia's larger economies. U.S. policies in the meantime have tilted toward protectionism. The concerns of America's middle class are real and very important. But they call for investments to make our workers more competitive and not costly trade barriers.”
-Peter Petri, Professor of International Finance, Brandeis University (Politico)
“Time is not on our side in Asia. As each day passes, our regional trading partners are strengthening their economic ties with China, concluding agreements among themselves and drawing closer to each other. And meanwhile, China is moving full steam ahead to fill the vacuum that we've left.”
-Wendy Cutler, vice president at the Asia Society Policy Institute (Politico)
Friday Feel Good
Here are just a few recent examples of how the international nameplate auto industry is doing good in communities across the U.S.:
Penz Automotive Group in Minnesota sponsored the Jeff Hanson Memorial Car Show at the local Eagles Club of Rochester, MN, a gathering of car enthusiasts who wanted to feature their classic cars, hot rods, and everything in between.
St. Cloud Subaru in Minnesota donated $14,392.25 to the local Boys and Girls Club as part of Subaru’s Share the Love Event. The money will support the Boys and Girls Club’s Grab & Go meal program.
Camelback Subaru in Arizona has so far donated 98,094 meals to St. Mary’s Food Bank through Feeding America.
We want to hear more about how you are supporting your local community – tweet us at @AIADA_News and use the hashtag #DealersDoGood.
You Auto Know will be on hiatus over the next two weeks during the July 4th congressional district work period. We’ll be back the week of July 12th with all of the news from Washington that You Auto Know about!
