Today I am pleased to sign into law H.R. 4542, the "Anti Car Theft Act of 1992." This legislation is absolutely critical if we are to strike back against auto thieves and carjackers. These criminals, who show no respect for the lives or property of law-abiding Americans, must be punished in the strongest possible manner.
This bill makes armed carjacking a Federal offense. The recent wave of these carjackings has made the need for action clear.
The bill also seeks to sap the profit motive for auto theft. Last year in the United States, auto thieves stole cars valued at $8 billion. H.R. 4542 creates a second Federal crime: operating or maintaining a "chop shop" to alter stolen cars for resale or reduce them to parts that can be resold.
It is my sincere hope that this legislation will reduce the level of auto thefts and carjackings. Thugs and criminals will now have to think twice about stealing a car. If not, they will pay a high price for their actions.
George Bush
The White House,
October 25, 1992.
Note: H.R. 4542, approved October 25, was assigned Public Law No. 102 - 519.
George Bush, Statement on Signing the Anti Car Theft Act of 1992 Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/267287