Let It Rain
Reacting to President Bush's announcement this morning that the auto industry bailout money should be pulled from the Troubled Assets Relief Program (TARP), House Republican Leader John Boehner (R-OH) called the proposal "regrettable."
“The action today is disappointing news for autoworkers and taxpayers, who deserve better -- particularly from their Congress, which essentially punted on this difficult issue and is gearing up to move radical environmental legislation next year that will wreak havoc on American jobs," Boehner said. "The no-bailout restructuring plan House Republicans put forth this month, which relied on private funds rather than taxpayer funds, was the responsible way for Washington to respond to the troubles in the American auto industry. By declining to take the responsible approach, Washington has failed both autoworkers and taxpayers. The use of TARP funds is also regrettable, the latest in a growing list of TARP money uses that were not discussed with or envisioned by Congress when the program was authorized. Now that billions in taxpayer funds are being put at risk, it is more essential than ever that our Democratic counterparts back away from threats to impose extreme environmental mandates on the auto industry that will jeopardize millions of American jobs.”
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