For Release: Wednesday, December 10, 2008
Contact: David Gillies: 202-225-5661
Costello Votes for Bill, Stresses Economic Effects of Collapse
Washington - Congressman Jerry Costello (D-IL) today issued the following statement regarding his vote for $15 billion in short-term loans to General Motors, Ford and Chrysler:
“I supported this legislation because the economic effects of a collapse of our auto industry would be severe. We lost 533,000 jobs last month and one in ten jobs in this country is connected to the auto industry. It is a critical component of our nation’s manufacturing capability. Here in our region, it was recently announced that Granite City Steel would temporarily cease production, and those workers and others like them across the country will get back to work faster with a robust domestic manufacturing economy.
“Most importantly, the automakers must move aggressively to retool their operations to be competitive in the future. If they do not act quickly working to demonstrate this progress and commitment, there will not be additional assistance next year.”
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