DeGette Statement On Auto Financing And Restructuring Bill

WASHINGTON – U.S. Rep. Diana DeGette (D-CO) today offered the followingstatement on H.R. 7321, Auto Industry Financing and Restructuring Act,which she supported:

"While it is not a perfect deal, this short term loan is necessary toprotect the jobs of nearly 5 million Americans nationwide helping toavoid another devastating blow to the economy. Essential to thispackage are the protections given the American taxpayer if thecompanies go into bankruptcy. In addition, the agreement will forceall parties, including labor and management, to come to the table underthe supervision of the White House to restructure the industry."