For Immediate Release
November 6, 2008 |
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FOR MORE INFORMATION:
Cullen Schwarz
Office: 202.225.4961
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Statement on the House and Senate Leadership Meeting with Auto Industry |
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(Washington D.C.)- Chairman John Dingell and Representative Sander Levin issued the following statement after the meeting of U.S. House Leadership with top executives from Ford, General Motors, Chrysler and the President of the United Auto Workers.
“We had a very constructive discussion with Congressional leaders about the importance of the auto industry to the overall national economy, and the importance of taking steps to ensure the stability of this sector during the current financial and credit crisis.
“The U.S. auto industry represents almost 4% of U.S. gross domestic product and represents 10% of U.S. industrial production by value. One out of every 10 U.S. jobs is auto-related and GM, Ford and Chrysler account for roughly 70 percent of U.S. auto production and are estimated to support around five million jobs across all 50 states. According to a report released this week by the Center for Automotive Research, the failure of even one US automaker would mean the loss of millions of jobs and cost our economy hundreds of billions of dollars. Inaction is not an option.
“A response to this crisis cannot wait. It is important that the Bush Administration join the Congress in supporting the automotive sector. It has the authority under the Emergency Economic Stabilization Act or through the Federal Reserve or by working with Congress to allow the auto companies to weather the current financial storm and to continue down the path of building the cars of the future and ending our dependence on foreign oil.
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To Contact Congressman Levin: -
Email Congressman LevinIn Michigan: 27085 Gratiot Ave, Roseville, MI 48066 | (586) 498-7122 | (248) 968-2025
In Washington: 1236 Longworth House Office Building, Washington, DC 20515 | (202) 225-4961
