On August 9, The EPA and National Highway Traffic Safety Administration published a supplemental notice to its recent fuel economy and emissions standards stating that the new regulations will include a midterm review process for the new regulations. The review, which will go through a public notice and comment period, is designed to evaluate the standards for model years 2022 through 2025. NHTSA will make a final decision on fuel economy standards at least 18 months before the 2022 model year begins, while EPA will decide on the GHG emissions portion of the rule by April 1, 2018. The rule itself, only proposed at this point, contains provisions for trading credits between vehicle manufacturers and a swath of HEV incentives. This all follows on the administration’s July 29 announcement that EPA and NHTSA will propose increasing the corporate average fuel economy (CAFE) requirements for cars and light trucks to 54.5 miles per gallon by 2025. The administration’s current goal is to propose the new fuel economy and GHG standards by September 28 with a final rule expected by July 31, 2012.