On the recordFebruary 23, 2010
As the administration begins to finally focus on job creation, they should look to the auto industry. Last year, the Federal Government, at the insistence of the administration, provided a $30 billion bailout to General Motors to create, according to administration officials, 'a leaner and more efficient company.' Recently, in House hearings, I questioned Assistant Treasury Secretary Allison about taxpayer dollars subsidizing GM expansion and investment overseas. This taxpayer bailout appears to have cost additional U.S. jobs and is jeopardizing automotive supplier companies. Harco Manufacturing, from my congressional district, is an example of a supplier being impacted by the bailout of General Motors. After receiving bailout funds, General Motors has selected suppliers from overseas, making it nearly impossible for domestic companies to fairly compete for business. Harco has requested that auto czar Ed Montgomery visit their facility to talk about these issues during his trip to Ohio tomorrow. It is my hope that Mr. Montgomery will work with them to help grow jobs here and not overseas. Mr. Speaker, American auto suppliers deserve better from their government.
