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WASHINGTON, D.C. – U.S. Senator George V. Voinovich (R-OH), Co-Chair of the Senate Auto Caucus, today released the following statement upon word that the Senate has finalized a bill to bring much-needed bridge loans to the American auto industry:
“My understanding is that we’re one step closer to giving a lifeline to millions of hard-working Americans who are worried about their jobs and providing for their families. While I am still studying the legislation, it appears that my Senate colleagues agree with my concerns regarding crippling environmental standards as well as providing strong protections for taxpayers and have moved to address those concerns. This relief is in the form of bridge loans that have to be paid back. The funding to support these loans has already been appropriated – this is not additional spending. If this compromise holds true, I will vote for this bill when it comes to the floor. We must act, and act quickly. This is not the time for political grandstanding. Time is running out for our economy. Unfortunately, some of my colleagues in the Senate do not understand how fragile things are and the anxiety other Americans are experiencing.”
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