The Democrats in Congress are taking notice. They want to support the ailing US auto industry, and they want to provide more aid to the ailing sector which is bleeding in cash and jobs. The push was made by House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid thru a letter that was sent to Treasury Secretary Henry Paulson. On the letter, the two lawmakers pushed for the expansion of the $700 billion bailout to include car companies. In the letter they said;
A healthy automobile manufacturing sector is essential to the restoration of financial market stability, the overall health of our economy, and the livelihood of the automobile sector’s work force. The economic downturn and the crisis in our financial markets further imperiled our domestic automobile industry and its work force.
This should be a welcome development for the automotive industry if the move will push thru.