Rescue plan passes muster with J. Salazar
Rep. John Salazar, D-Colo., said he supported the bridge loans approved Wednedsay by the House for struggling U.S. automakers.
Before the vote Wednesday, Salazar told The Daily Sentinel the strings attached to the $14 billion loan package, including mandatory restructuring of companies, convinced him the plan is superior the $700 billion financial bailout he voted against in September and October.
“This is … the responsible thing to do to make sure the American taxpayer’s dollars are protected,” Salazar said. “And, like I said, this is a bridge loan. This is not a giveaway.”
Salazar said he also was moved by the thought of car dealers in the 3rd Congressional District, which covers most of western and southern Colorado, having to honor warranties of U.S.-made cars without reimbursement from the manufacturers.
“If any of them file bankruptcy … the dealerships don’t get paid for the warranty work they need to put out,” Salazar said.