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CNS News - Incoming Members of 111th Congress Say No to Automaker Bailout

News Article

Date: Nov. 18, 2008
Location: Washington, DC
Issues: Transportation Business and Consumers Economy and Fiscal


CNS News - Incoming Members of 111th Congress Say No to Automaker Bailout

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"I do not" support an auto-maker bailout, Cynthia Lummis (R-Wyo.) told CNSNews.com. "Bailing-out the Big Three allows them to avoid making an evaluation of how to become lean and mean and provide a product the American consumer likes better. My preference would be to avoid the bailout and allow the marketplace to work."

Congress, which is returning this week for a lame-duck session, is expected to grapple with legislation originating in both chambers that would provide faltering automotive giants GM, Ford, and Chrysler with $25 billion in aid, which potentially would come out of the $700 billion allocated for the financial bailout in early October.

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