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Latham Reaction To Auto Industry Bailout

Press Release

Date: Dec. 10, 2008
Location: Washington, DC
Issues: Business and Consumers Economy and Fiscal Government Budget and Spending

Latham Reaction To Auto Industry Bailout

Regarding the congressional vote on the U.S. auto industry bailout, Iowa Congressman Tom Latham had the following reaction:

"I am deeply concerned about the health of our nation's auto industry and the impact it has upon American workers and communities. There is no doubt that this industry plays a key role in our national economy and a key role in the livelihoods of many of my constituents and neighbors in Iowa. Nevertheless, just as the bailout of Wall Street has failed, another poorly crafted bailout plan will not truly solve the ills of the auto industry. This bailout bill would take the power to formulate long-term solutions for the problems facing the auto industry from those who are most familiar with the industry and put it in the hands of a Washington bureaucrat. American taxpayers should not be responsible for the failure of Detroit's poor business model. This bailout is unfair to American taxpayers and I have no confidence that it will help the auto industry back on track."


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