Senate Democrats

Reid: Bush Request For New Auto Industry Fund Is Unacceptable

Washington, DC—Senate Majority Leader Harry Reid made the following statement today in response to the White House’s proposal to use money allotted for building fuel-efficient vehicles to save the struggling auto industry, rather than do so through the Emergency Economic Stabilization Act passed in September:

“The Bush Administration’s proposal is unacceptable.  The Secretary of the Treasury should use the authority and funds that Congress has already given him to help the auto industry.  The Administration’s plan would require additional legislative action in the House and Senate and the President’s signature – but there is no reason to start at square one when Secretary Paulson can protect millions of American jobs in one of our most important industries with the stroke of a pen.”