Lawmakers from both parties say they approve of President Bush’s plan to offer General Motors and Chrysler $17.4 billion dollars in short term loans though Democrats object to the plans “targets and conditions” which urge a scale back in workers wages and benefits.
 
Rep. John Conyers (D-Detroit) called the money “an emergency lifeline to the Big Three” and “good news for the City of Detroit.”

With these loans, the industry can step back from the precipice of economic ruin and begin considering the difficult undertaking of fundamental reform. …
While I applaud the President’s responsiveness to the crisis, I do have reservations about the fairness of the burdens imposed on the autoworkers in this deal. A true reform plan should ideally extract concessions from all stakeholders – industry, the union, and taxpayers – on an equal basis. This aspect of the loan’s structure should be reviewed when we reconvene in January.

Rep. Dave Camp (R-Midland) issued only praise for the Administration’s plan .

“I am pleased that the Administration came through with this relief package, which is critical to the health of the Michigan economy and the jobs of hundreds of thousands of Michigan workers. This financing will ensure that the automakers have sufficient time to make the cuts and reforms necessary to remain viable and competitive. At the same time, it protects taxpayers by setting firm deadlines and stringent conditions on loan repayment.”

Rep. Mike Rogers (R-Livingston):

I am confident that this assistance will prevent disaster for Michigan’s economy and Michigan workers. I am also confident that these bridge loans will give Michigan the helping hand we need to rebuild and renew for our future.

However, we must recognize that these bridge loans alone will not solve Michigan’s problems. I am encouraged that President Obama has said he wants to help Michigan and our auto industry.

U.S. Senator Debbie Stabenow (D-MI):

“These provisions raise serious concerns regarding unfair, punitive conditions being place on the backs of workers. The same workers that have already made historic concessions. It is very unfortunate that as part of the good news, of this important bridge loan, this proposal unfairly singles out workers.

“I look forward to working with President-elect Obama in the new year, and my colleagues in the Senate and House, to make this a better package that is fair to all parties involved, including middle-class workers.”

Rep. Bart Stupak (D-Menominee)

I commend him for stepping up to help the automakers and middle class Americans whose jobs depend on the auto industry at a time when Senate Republicans were willing to let the automakers collapse.

“Although the White House plan includes targets for concessions by workers, I was pleased to see that the administration has appropriately left it to the auto companies, United Auto Workers and other stakeholders to work out the details.
… This is the first step on the road to long-term sustainability for our domestic auto industry.”