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DeGETTE STATEMENT ON AUTO FINANCING AND RESTRUCTURING BILL
Wednesday December 10, 2008
WASHINGTON – U.S. Rep. Diana DeGette (D-CO) today offered the following statement on H.R. 7321, Auto Industry Financing and Restructuring Act, which she supported:
“While it is not a perfect deal, this short term loan is necessary to protect the jobs of nearly 5 million Americans nationwide helping to avoid another devastating blow to the economy. Essential to this package are the protections given the American taxpayer if the companies go into bankruptcy. In addition, the agreement will force all parties, including labor and management, to come to the table under the supervision of the White House to restructure the industry.”
The measure passed on a vote of 237 to 170.
“While it is not a perfect deal, this short term loan is necessary to protect the jobs of nearly 5 million Americans nationwide helping to avoid another devastating blow to the economy. Essential to this package are the protections given the American taxpayer if the companies go into bankruptcy. In addition, the agreement will force all parties, including labor and management, to come to the table under the supervision of the White House to restructure the industry.”
The measure passed on a vote of 237 to 170.
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