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Shea-Porter Statement on Auto Industry Financing and Restructuring Act Print

 "Today, I voted yes on the Auto Financing and Restructuring Act.  Although I am very disappointed with the management decisions that the auto industry has made over the past 30 years, I believe immediate action must be taken in order to protect millions of American jobs, including 12,000 in New Hampshire. A domestic auto industry is essential for both our economic and our national security. Therefore, it is critical that this important industry survive. This legislation should not be viewed as a reward for bad behavior, but as a loan with appropriate restrictions that must be repaid to the American taxpayers.  Unlike the Wall Street Bailout, this legislation provides strict oversight, accountability, and taxpayer protection."