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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.

Barbara Boxer
United States Senator

Please visit my website at http://boxer.senate.gov

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