On the recordMay 31, 2011
I was just listening to you discuss the situation with General Motors and Chrysler. That was a very courageous move that the Democratic Congress, together with President Obama, made when they made a decision to save the American automobile industry. Many people, particularly the Republicans here in this House, said don't do it, government shouldn't interfere with business, let the good go and the bad die. Well, this was several hundred thousand small businesses across the Nation that are supply chains that would have died. But the decision was made--a very courageous decision by the President--to support the foundation of one of the great industries in this world and one of the great industries in America. And so General Motors and Chrysler did receive a bailout. And here we are today with two companies back at it, making cars, making it in America, and by golly, we're going to ``Import from Detroit.'' You know, that was one of the greatest advertisements there ever was. But that's what this is all about, that's what this Make It in America agenda really is. There is another piece of this agenda that we really must pay attention to, and that is the future energy sources of America are going to be renewables, together with gas and nuclear, but these new industries need support in their early days. And this is a tax policy. There has been in place for about 7 or 8 years now a very robust tax policy to support the new renewable industries. The production tax credit.…
Source
govinfo.gov




