The Northeast Mississippi Daily Journal, 11/19/8
The cash-strapped Big Three automakers could find little support for an economic bailout among a Mississippi congressional delegation whose state depends on foreign competitors like Toyota and Nissan.
The chairmen and CEOs of General Motors, Ford and Chrysler want the federal government to pump $25 billion into their faltering companies. The plan has support from several top lawmakers, including Speaker of the House Nancy Pelosi.
But it will get no love from U.S. Sen. Roger Wicker, R-Miss., who said in a press release Tuesday that the “Big Three automakers were in financial trouble before our economy slowed down. To provide a $25 billion bailout for some companies isn’t fair to taxpayers or the American businesses that have made smart decisions, nor is it good government policy.”
U.S. Sen. Thad Cochran said in an e-mail to the Daily Journal that he too is “not inclined to support the auto bailout but will review the details carefully before a vote occurs in the Senate.”
Magnolia Tribune
