Fortenberry Opposes Auto Bailout

Congressman Jeff Fortenberry this evening voted against the $14 billion bailout plan for automakers. He made the following statement.

"I don't want to see any family face unemployment, and a vibrant, sustainable domestic auto industry is in everyone's best interest. However, this policy continues to underwrite the same structures that have led to the current difficulties.

"Unfortunately, innovative proposals to inject needed capital and demand, such as advanced federal auto fleet purchases, were not seriously considered. I fear this temporary measure only sets up the taxpayer for further exposure in the future.

"Perhaps leadership changes are needed. The three CEOs, boards of directors, and top auto union leadership should consider voluntarily stepping aside, allowing for a clean slate and creative thinking.

"This is a very difficult position for American taxpayers. Which industry will approach Congress next?"

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