CHAIRWOMAN BOXER OF THE SENATE'S ENVIRONMENT AND PUBLIC WORKS COMTE REPLY
Dear Mr. Fisher:
Thank you for writing to me about proposals to provide emergency loans to the U.S. auto industry. I appreciate hearing from you on a matter that is very important to our nation and to California, which has 153,000 related jobs in dealerships and other affiliated enterprises.
Last year, Congress authorized a program to provide up to $25 billion in loans to automakers and parts suppliers for the production of fuel-efficient cars and light trucks.
Recently, the "Big Three" automakers returned to ask Congress to authorize bridge loans to cover day-to-day operations. Congressional leaders rightly insisted that the automakers must develop a credible restructuring plan that results in a viable industry with quality jobs and economic opportunity for the 21st century while protecting taxpayer investments.
As Congress considers further assistance for the U.S. auto industry, I will be weighing any proposal in light of its impact on California's workers and taxpayers. I believe that any federal assistance should be used to stimulate growth, modernization, and job creation.
Again, thank you for writing to me. Please be assured that I will keep your views in mind as Congress considers any additions or modifications to the emergency loan program.
United States Senator
Please visit my website at http://boxer.senate.gov