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Press Release

For Immediate Release
Contact: Sean C. Bonyun
December 10, 2008
(202) 225-3761

Upton Applauds House Passage of Loans for U.S. Automakers, Urges Swift Passage in the Senate

WASHINGTON, DC - Congressman Fred Upton (R-St. Joseph), co-chair of the Congressional Auto Caucus, made the following statement today following the House passage of legislation making available nearly $15 billion in loan assistance for domestic automakers.  The measure, H.R. 7321, passed the House by a vote of 237 to 170.

“The vote in the House is an investment in Michigan and America.  The stakes could not be higher as each day that goes by without action, we inch perilously closer to losing one or more of the Big Three to bankruptcy.  Losing just one of our automakers would not only shatter the state of Michigan but cause a tidal wave of catastrophic proportions to the nation’s economy, putting nearly 2.5 million workers on the streets.  Although Japan, China and Germany have all provided their domestic carmakers financial assistance during the world economic crisis, it seems that some U.S. leaders would rather allow the Big Three to collapse, regardless of the consequences.  Now it is up to the Senate to fulfill its responsibility to the millions of workers in Middle America whose jobs hang in the balance this holiday season.”  

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