Republicans Introduce Plan to Kill Manufacturing Jobs by Gutting Section 136 Loans

Press Release

Late last night, House Republicans released a job killing plan to gut Section 136 loans which are designed to help create manufacturing jobs. As a Representative of the Greater Detroit area, Rep. Gary Peters has worked hard to protect these important loans. In fact, according to the Department of Energy, Section 136 loans have protected and created 41,000 manufacturing jobs and a rollback of this program could cost thousands of manufacturing jobs.

Rep. Peters issued the following statement:

"By introducing a plan to gut Section 136 loans, House Republicans have shown that they don't care about manufacturing jobs in places like the Greater Detroit Area," said Rep Peters. "We should fund recovery efforts in Eric Cantor's District, but not at the expense of programs designed to address the economic disaster that hit Michigan and other manufacturing states. Eric Cantor is wrong and I will fight against his job killing agenda."

The elimination of $1.5 billion in Section 136 loans is part of the Republicans Continuing Resolution to fund the Government through November 18, 2011. It includes $3.65 billion in emergency recovery funding, but comes at a great cost to manufacturing jobs.

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