Congressman Phil Hare (D-IL) today released the following statement after voting in favor of a $15 billion federal loan package for struggling domestic automakers.

“Our country is mired in the worst economic crisis since the Great Depression. The domestic automobile industry and its blue collar workforce have been especially hard hit.
The consequences of this industry collapsing would be catastrophic for working families. Recession would spiral into depression. Millions of jobs would be lost. It is something we must prevent.

“Over the last several weeks, I’ve heard a lot of blame being passed around for the situation our car companies find themselves in. I agree with those who say the Big Three have been too rigid in their opposition to building more fuel efficient cars. I believe strongly, as many Americans do, that the Bush Administration and Congress have not done enough to create and protect American jobs. But it is not the auto executives or politicians who are suffering as result. It’s the hard working UAW members who spend every day on the assembly line trying to support their families. They are the reason I support this package.

“The bill passed by the House gives $15 billion in conditional loans to the auto industry to help them survive over the next few months. During that time, they will be required to achieve viability, international competitiveness, fuel efficiency, and reduced emissions. The bill gives the President the authority to appoint a “car czar” who will be responsible for ensuring these conditions are met.  If the car czar determines that the companies have not made themselves viable by the end of March, they will be required to pay back the government with interest.  Furthermore, the car czar will have the authority to prevent any participating automaker from moving its operations overseas.

“Like all legislation, this bill is not perfect. But it is necessary. Letting the auto industry collapse would unfairly punish America’s workers for sins they did not commit.”