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November 19: Kaptur Supports Help for America's Auto Industry |
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Congresswoman
Kaptur repeated her support for federal help for the U.S. auto industry
following a hearing on Capitol Hill that featured the chief executive
officers of the Big Three and the president of the United Auto Workers.
Congresswoman Kaptur attended a special hearing of the House Committee
on Financial Services at the invitation of Chairman Barney Frank
(D-Mass.). Kaptur’s colleagues from the Michigan congressional
delegation testified at the hearing, along with Ron Gettelfinger,
president of the United Auto Workers, Robert Nardelli, CEO of Chrysler,
Rick Wagoner, CEO of General Motors, and Alan Mulally, CEO of Ford
Motor Company.
“Despite its troubles, the U.S. auto industry remains the backbone of
U.S. manufacturing, providing more than 100,000 jobs in Ohio alone, not
to mention thousands more in dealerships and parts makers,” Kaptur said
after the hearing. “An immediate bridge loan is important because
bankruptcy is simply not a viable option.”
The Ninth Congressional District is a major center for auto production in America.
Kaptur, a member of the Defense Appropriations subcommittee, said
national security concerns also underlie her concern for the health of
the Big Three automakers. “This industry is a vital part of our
industrial base. No major industrial power has ever survived without a
thriving domestic manufacturing industry,” she said.
Congresswoman Kaptur said she also supports tax incentives for
consumers to buy American-made cars and trucks as another short-term
response to the crisis in the industry, which has seen sales fall
sharply in recent months.
A medium-term component of the federal response, Kaptur said, should be
tax and trade policies that create a level playing field for U.S.-made
products in the face of patently unfair competition from closed-market
nations such as Japan and Korea and an expected challenge from China.
In the long term, Kaptur said, the federal government should encourage
automakers to accelerate the development of green technology and
fuel-efficient products as America moves towards energy independence.
“This is a crucial moment for our region,” said Kaptur. “When America
had a thriving auto sector, America had a health economy. In many ways,
the rise of the automobile industry in America parallels the rise of
the middle class. We have to take action.”
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