Legislative Priorities By NADA Cosponsor the “FTC Redo Act” (S. 3014) The Federal Trade Commission (FTC) proposed a “Vehicle Shopping Rule” that would overwhelm car buyers and small businesses with needless and additional costs, paperwork and lengthened sales process. The rule was proposed without credible data-driven analysis or the necessary time for public comment to avoid unintended consequences to consumers and small businesses. A comprehensive study by the Center for Automotive Research found that the rule would cost consumers more than $38 billion (over 10 years) and add 2 hours for consumers to complete a typical transaction. The FTC’s proposed rule would make the auto buying experience worse, not better, for consumers. NADA supports the FY 24 Financial Services and General Government appropriations bill (H.R. 4664), which includes language that stops the FTC from finalizing, implementing or enforcing the “Vehicle Shopping Rule” for one year. NADA also supports the “FTC REDO Act” (S. 3014), which would stop the “Vehicle Shopping Rule” and require the FTC to follow certain procedures to ensure the rule is the result of an informed process if it chooses to “REDO” the rule. The bill requires the FTC to 1) issue an Advance Notice of Proposed Rulemaking; 2) conduct a quantitative study on auto retailing; 3) conduct consumer testing; and 4) publish a cost-benefit analysis based on actual data. The FTC failed to perform these essential steps before proposing its rule. The “FTC REDO Act” will soon be introduced in the House. Members of Congress are urged to cosponsor the “FTC REDO Act” to stop the flawed “Vehicle Shopping Rule” and prevent the FTC from needlessly imposing significant burdens and costs on consumers and small business dealers. EPA’s Proposed 67.5% Electric Vehicle Mandate Goes Too Far, Too Fast The Environmental Protection Agency (EPA) proposed new emissions standards that would effectively require 67.5% of U.S. car sales to be electric by 2032. New car and truck dealers are essential to sell and service electric vehicles (EVs) and already have invested $5 billion of their own capital in the tools, equipment, training and recharging infrastructure to move from early adopters to mass marketing EVs to average consumers. Despite federal incentives, customers are not purchasing EVs in the quantities required for automakers to meet these different government mandates. 8 Illinois Automobile Dealer News
RkJQdWJsaXNoZXIy ODQxMjUw