McConnell: No Senate Vote Today on Auto Bailout
The Kentucky Republican signals his displeasure over the plan and issues a set of conditions
Senate Minority Leader Mitch McConnell, who announced he would not allow a vote on Wednesday on the proposed $15 billion in loans to the Big Three automakers, laid out a set of "Republican criteria" for the legislation.
"We will not let taxpayers spend their hard-earned money on ailing carmakers unless these companies are forced to reform their bad habits—either inside or outside of bankruptcy," the Republican from Kentucky said from the Senate floor. "This means that workers won't be paid not to work. This means a final bill would not interfere with pending environmental lawsuits in a one-sided manner. And it means that struggling car companies will have to rationalize their cost structures—because a company that does not respond to market conditions is a company that is doomed to failure anyway."
McConnell added, "Republicans will not allow taxpayers to subsidize failure. As I've said repeatedly, my Republican colleagues and I want to put struggling carmakers on a path to long-term success. But we cannot support a plan that doesn't."
With respect to environmental litigation, McConnell has been critical of the measure's requirement that automakers drop legal challenges to state fuel-economy standards that are tougher than the federal standard.
The senator complained that he was told of a White House agreement with congressional Democrats Tuesday night but had not seen a final version of the bill Wednesday morning.
He said GOP lawmakers would discuss the merits of the latest proposal at a policy lunch Wednesday and said he expects to have substantive thoughts about its chances of support within his conference afterward. "We will address this issue before the end of the week," he added.
Reader Comments
auto loans
Mr. Mcconell:
What gave the courage to vote against the auto loans? If I were to make such a decision I would not be able to sleep at night. You and your fellow Republicans have made a big mistake which will put this country in a DEPRESSION. Your motives are clear you are trying to bust the unions in this country because they voted Democratic. Just watch MSNBC and you will get the whole story. I am sadden over the decision you made today because it may put my family into the unemployment line. So thank you for thinking about the little people all over this country and not just the people in your state.
From a fellow American who loves this country.
Auto Bridge Loan
I am angry that Senate Republicans consider a Wall Street Bail out appropriate but balk at providing a BRIDGE LOAN to help 3 million AMERICAN auto workers. Call it what you will but I call it UN-AMERICAN. If you feel that the UAW workers are paid too much please check your facts: http://mediamatters.org/items/200812060002. Or, if you don't like that source just Google American auto workers wages vs American Honda/Toyota worker wages.
Yes, I blame the management of the big 3 for this mess but do not punish the workers because of the failure of management. Don't throw out the baby with the bathwater.
A loan is a loan is a loan...as to who gets BAILED out next - maybe you and I if this recession becomes a depression - or perhaps not if this kind of partisanship continues. The message I get is that they care more about Wall Street and less about people like me.
Once again we see where their priorities lay - Not with what I care about.
Auto Bailout
Apparently Mr. Mcconnell is dazed and confused since the election. Or maybe he is just angry because he was almost swept up in the Obama Sunami. He and other upstanding Republicans just recently voted to provide the biggest corporate welfare check in history to Wall Street. By the way some of the Wall Street giants took a business as usual attitude and scheduled golf junkets after they got TAXPAYER MONEY!
Now we have corporations that have deep tentacles in a lot of working class communities....and also affects not just the UAW members that he so viciously loathes but none represented workers as well. So to get back at the UNIONS that went after him he will sacrifice a whole industry and thousands of american workers. I hope the working people of Kentucky that voted for him and are affected by his vendictiveness are watching.
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