WASHINGTON, D.C. --- The Bush administration has given draft legislation to Congress that proposes giving regulators authority to raise vehicle fuel economy standards, Reuters reported. The White House proposal was submitted to the House Energy and Commerce Committee, as part of President Bush's plan to curb U.S. oil consumption. Today, an automaker's fleet of passenger cars must average at least 27.5 miles a gallon to comply with the federal corporate average fuel economy standard.

Originally posted on Fleet Financials