Hoekstra plans to propose bailout alternatives
by Tom on November 19, 2008
in Market Musings
Federal tax credits on new car purchases and delaying fuel-efficiency mandates are options that should be considered before Congress cuts a bailout package to domestic automakers, U.S. Rep. Peter Hoekstra planned to tell a House committee today.
But he said if lawmakers are inclined to dole out $25 billion to Ford, General Motors and Chrysler, executives at the Detroit Three and the thousands of employees across the nation need to make concessions, including slashing pay and developing new business models.
“It’s very simple: If you want taxpayer money, it’s going to come with tough strings attached,” Hoekstra said Tuesday, the night before he was to testify before the House Committee on Financial Services on a potential bridge loan.
I’ll have to admit, I’m somewhat biased because Pete Hoekstra comes from “my” district and I’ve met him a couple of times, but I like the way he thinks about it…..
What do you think?
