Gohmert offers alternative to auto bailout

WASHINGTON D.C. (KTRE) - While the big three automakers are trying to get a piece of the $700 billion bailout, the congressman who represents a big part of East Texas has another alternative in mind.

Louie Gohmert introduced a bill last week called the Consumer and Automotive Recovery or "CAR" act of 2008.

It would provide a $1,500 tax credit to those with incomes less than $250,000 a year, if they buy a new car that is mostly built here in the U.S. in the next six months. Gohmert told KTRE that this plan will put the power back with the tax payers, where he says it belongs.

"This also takes the word of our president elect and puts it into statute," Gohmert said. "President Elect Obama has told us that if you make less than $250,000 then you are going to get a tax credit."

Earlier this year when the bailout was first proposed, Gohmert voted against it twice. He tells KTRE that this bill continues his efforts to lessen what he calls the "historic" power that's been given to Treasury Secretary Henry Paulson.