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West Virginia Appropriations Requests
December 12, 2008
ROCKEFELLER STATEMENT ON EMERGENCY LOANS FOR THE AUTO INDUSTRY
Washington, DC – Senator Jay Rockefeller issued the following statement after Senate Republicans blocked legislation that would authorize emergency bridge loans to the auto industry:
“I am stunned and deeply disappointed that Senate Republicans decided late last night to block the good-faith bipartisan auto industry compromise.
“I am stunned and deeply disappointed that Senate Republicans decided late last night to block the good-faith bipartisan auto industry compromise.
The auto industry employs at least 3 million people in America, including many dealers and parts suppliers in West Virginia.
I’m extremely concerned that a catastrophic failure of the auto industry will result in our nation plummeting even deeper into recession and heartache for West Virginia families.
It is clear that the auto companies must restructure their business plans with an eye toward becoming financially sound, take steps to limit executive pay, and create more fuel efficient cars and trucks – but it is also very clear that allowing the auto industry to fail is simply not an option. Millions of West Virginia and American families should not be allowed to suffer.
It is clear that the auto companies must restructure their business plans with an eye toward becoming financially sound, take steps to limit executive pay, and create more fuel efficient cars and trucks – but it is also very clear that allowing the auto industry to fail is simply not an option. Millions of West Virginia and American families should not be allowed to suffer.
At this critical moment, I strongly encourage the President to do whatever it takes to help keep the auto industry afloat and thriving – we must put working people first.”
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