Washington, D.C. - U.S. Senator John McCain (R-AZ) today issued the following statement regarding President Bush’s announcement to bail out the U. S. domestic auto manufacturers:

 

“I regret the President’s decision to give away over $17 billion to the domestic automakers. Just last week, the Senate rejected a bailout plan because it failed to provide assurances that the domestic manufacturers would fundamentally change the way they do business to ensure their long-term viability.  I find it unacceptable that we would leave the American taxpayer with a tab of tens of billions of dollars while failing to receive any serious concessions from the industry.”