WASHINGTON, DC – U.S. Senator Kit Bond today joined Senators Levin (D-MI), Voinovich (R-OH), Stabenow (D-MI), Spector (R-PA), and Brown (D-PA) to announce a bipartisan agreement to save American jobs and help the American auto industry survive the current economic crisis.  Bond, who helped broker the agreement, fought to include tax payer protections and tough requirements on the auto companies. 

 

            Bond made the following statement about today’s agreement:

 

            “Right now, hundreds of thousands and perhaps millions of auto workers are at risk of losing their jobs.

 

            “Folks like Steven Healy, who works at the Ford Auto Assembly Plant in Kansas City.  Steven is worried about supporting his wife and daughter if Congress fails to act.

 

            “Here in Washington there has been a lot of talk about what the government response to this crisis should be.

 

            “But talk won’t help the more than 200,000 Missouri workers like Steven who could lose their jobs if the auto industry goes under.

 

            “Thanks to the good friends I have standing up here with me today workers like Steven will have a happier Thanksgiving next week.

 

            “We have reached a bipartisan compromise that will protect the millions of American jobs at stake, protect taxpayers, and require the auto industry to prove their long-term financial health.

 

            “We agree that the auto industry shouldn’t get a blank check, which is why we have crafted a bill that will save jobs, but that also includes tough requirements. 

 

            “This proposal requires each auto company to prove their long-term financial health as a condition of receiving funds – and my first suggestion would be selling the corporate jet; includes strong taxpayer protections and ensures taxpayers share in equity and turnaround profits.

 

            “This compromise is the right way forward to protect the millions of jobs at sake.  I expect the Senate leadership to immediately vote on this bill when we return in December.”       

            ###