Final Fuel Efficiency Standard Puts Small Business in the Driver's Seat

Today, national standards were finalized requiring that all cars and light trucks get 54.5 miles per gallon by 2025. These standards official stamp of approval is a victory for entrepreneurs whose businesses have long been plagued by rising fuel costs. Our scientific opinion polling found the vast majority of small business owners believe improving innovation and energy efficiency are good ways to increase prosperity for small businesses.

In fact, four in five entrepreneurs support requiring the auto industry to increase mileage to 60 miles per gallon by 2025, a standard even higher than the 54.5 mpg rule finalized today. Moreover, three-quarters of small business owners believe the federal government should do more to make American car companies innovate.

Putting more fuel-efficient cars and trucks on the market will help ease the impact volatile gas prices have on small firms ability to grow. The new standard is expected to reduce fuel consumption up to 40 percent by 2025. This means money that small businesses would have spent on fuel can instead be used to hire more employees, give raises or expand their companies.

Today's announcement mirrors the desires of our nation's leading job creators. We applaud the finalization of the new rule, as it will save entrepreneurs money that can be reinvested in jobs. That's exactly what our economy needs.