SEN. VOINOVICH: CONGRESS FAILED AMERICAN AUTO INDUSTRY
Calls on the president to use TARP funding to stave off disaster
December 11, 2008
WASHINGTON, D.C. – U.S. Senator George V. Voinovich (R-OH), Co-Chair of the Senate Auto Caucus, today released the following statement after Congress failed to do its job and provide bridge loans to the American auto industry:
“There are millions of hard-working Americans tonight who are worried about their jobs and providing for their families. And tonight, Congress failed them. Sen. Levin and I had a true, bi-partisan compromise on the table three weeks ago ready to be voted on, yet it never saw the light of day. The politics need to end before even more companies fall through the ice. Tonight, I am calling on President Bush to use the already-appropriated TARP funds to provide the oxygen needed while they restructure and become healthy and competitive. If we can use the funds for the financial industry, we can use them for the auto industry. We’ve said all along this money was for Main Street and not Wall Street. I think it’s about time we prove it. Time is running out.”
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