For Immediate Release
December 12, 2008 |
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FOR MORE INFORMATION:
Cullen Schwarz
Office: 202.225.4961
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Levin Statement on Auto Industry Bridge Loans |
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(Washington D.C.)- Congressman Sander Levin (D-MI) released the following statement today:
“The statement by the Treasury Department that it stands ready to prevent an imminent failure of the domestic auto industry is a welcome response to what, if not addressed, is truly a crisis of days facing the entire automotive industry.
“The legislation worked out between the White House and Congressional leaders that passed the House guaranteed that all of the market participants would have to sit down and be part of further restructuring and contained tough oversight provisions including the ability of the “czar” to call the loan. Instead of helping pass this consensus legislation, it is unfortunate that Senate Republicans, who often want to minimize government intervention, insisted that any agreement go beyond this consensus and dictate to the UAW specific concessions by a certain date beyond those contained in contracts with the Big Three.
“The legislation approved by the House and supported by the White House is the right framework for moving forward with the restructuring that all stakeholders must participate in. What is essential today is that the White House act.”
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To Contact Congressman Levin: -
Email Congressman Levin In Michigan: 27085 Gratiot Ave, Roseville, MI 48066 | (586) 498-7122 | (248) 968-2025
In Washington: 1236 Longworth House Office Building, Washington, DC 20515 | (202) 225-4961
