WASHINGTON, DC ---- The passage of the Auto Industry Financing and Restructuring Act on December 10 was an important step by the House of Representatives to restore financial stability to a vital and necessary industry in this nation. As a Member of Congress, there were at least three compelling reasons that led me to support this important legislation. First, I believe there are sufficient safeguards in this stop-gap legislation to protect taxpayer dollars.

Second, this bill will allow the President-elect Barack Obama and his Administration enough time upon taking office to adequately review the long term viability of the auto industry.

Lastly, a major reason I supported this bill was because it preserves more than 154,000 jobs in Illinois. Too many people have already lost their job this year. We cannot afford for the American auto industry to collapse.