Obama Administration Turns Back On Auto Supply Chain

Sen. Sherrod Brown said Tuesday he plans to introduce legislation to provide more aid for auto-parts suppliers, after the Obama administration turned down an industry request for more funds.

Sen. Brown (D., Ohio) said in a statement that the proposed legislation would "provide a new funding source to help auto suppliers and other manufacturers retool for the clean energy industry." He plans to unveil the proposal Wednesday on Capitol Hill.

The plan, which Sen. Brown said has the support of business, environmental and labor leaders, would aim to prevent a wave of bankruptcy filings by parts companies while helping them retool to build more fuel-efficient cars.

Trade groups warned last week that hundreds of suppliers could collapse without further government aid as the bankruptcy filings of General Motors Corp. and Chrysler LLC deepen the suppliers' troubles.

AutoSpies.com Photo Galleries

If you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com

Share on Facebook

Read Article

sigmabody - 6/16/2009 1:41:50 PM

+2 Boost

Apparently it's ok to use the $700B from the gigantic waste program to reward insider cronies, illegally transfer auto companies to unions, and build bridges for turtles, but giving handouts to part supply businesses is not approved. I'll bet they wish they were union shops instead of competitive businesses right about now.

finishline - 6/16/2009 2:16:02 PM

+4 Boost

And if he'd given them money, you would be squealing that the gov't wants to own the auto suppliers just like it owns the auto companies. You people are ridiculous. Seriously, do you even see how he can't win with you?

This legislation, should it pass Congress, is the appropriate path to bailing out the auto suppliers. Now let's see how the votes fall. Bipartisan support for this bill introduced by a Democrat? Don't forget, you said it was necessary. Check back in!

finishline - 6/16/2009 5:52:48 PM

+3 Boost

My point is that the suppliers will likely get the money and Obama knows that. But it will be AFTER a vote in Congress, which I think is the expedient way to get this done AND it's a smart move politically for him.

EL34 - 6/16/2009 4:17:36 PM

-1 Boost

Obama's a scum.

Pelosi's a scum.

Panetta's a scum.

Biden's a scum.

EL34 - 6/17/2009 10:05:33 AM

+2 Boost

Face it, Obama's a one termer.

Now start chanting in a low grunting voice, Obama - Obama - Obama

LauderdaleDriver - 6/19/2009 9:50:48 AM

+1 Boost

The Hannity crowd is in pig-heaven. If the government gives money to the suppliers, he's a "socialist," taking over America.

If he doesn't give money to a business, he's heartless, guilty of cronyism, and whatever.

That's not exactly consistent, critical thinking, it's just showing how your hemorrhoids ache.