(Washington, D.C.) – Today, U.S. Senator Patty Murray (D-WA) issued the following statement after the Senate failed to move forward on H.R.7321 the Auto Industry Financing and Restructuring Act.
“I am disappointed that the Senate was unable to find a path forward to provide a bridge loan to American automobile manufacturers. In Washington state, we understand that the strength of our economy is tied to the health of our manufacturing base. We see it every day in the impact Boeing and our domestic aerospace industry has on the stability of our region, the livelihood of our small businesses, and the strength of our economy.
“The bill we were working towards was not ideal. But it did tether aide to support restructuring of an industry that may not otherwise survive. In Washington, over 30,000 jobs at auto dealerships, wholesalers, parts manufacturers, and other businesses depend on the automotive industry. Each of these jobs means protection from foreclosure, escalating debt, and lost health care.
“In the middle of the most severe economic crisis since the Great Depression, I hope that today’s inaction does not result in the path to recovery becoming harder and longer for our entire nation.
“I believe it’s time to have a serious national conversation about the future of America’s manufacturing industry – from automobiles to airplanes. Having a strong American manufacturing base that can quickly adapt to changing times and produce the quality products of the future is invaluable to our national defense and our long term economic security.”
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