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Tue November 18, 2008
Enzi opposes auto bailout
Washington D-C – Senator Mike Enzi isn't convinced that U-S carmakers are doing enough to earn a twenty five billion dollar rescue plan.
Leaders of Ford, GM and Chrysler were on Capitol Hill to face a skeptical panel at the Senate Banking Committee. They want more money to prevent plant closures and layoffs across the country. Senator Enzi said the carmakers haven't shown they are changing their ways.
"We have little evidence that this 25 billion dollars will do anything to promote the long term success and competitiveness of domestic auto manufacturers, however this body is under tremendous pressure to provide this money with no strings attached."(:14)
Enzi said the bailout shouldn't be rushed through Congress. He wants other alternatives, such as using Detroit assets as collateral. Democrats want to use some of the Wall Street bailout money instead. A Senate vote on the package is expected later this week.
From Capitol News Connection, for Wyoming Public Radio, I'm Eric Niiler.