Wicker to Oppose $25 Billion Auto Bailout

November 18, 2008

WASHINGTON – U.S. Sen. Roger Wicker, R-Miss., today made the following statement regarding the $25 billion bailout package for U.S. automakers scheduled for Senate consideration this week:

“I opposed the $700 billion Wall Street bailout seven weeks ago in part because I didn’t think it did anything to get to the root of the problem.  Now, Senate Democrats want to tap into those funds to provide $25 billion to struggling U.S. automakers while ignoring the companies’ competitiveness issues that have continually plagued them. 

“The Big Three automakers were in financial trouble before our economy slowed down.  To provide a $25 billion bailout for some companies isn’t fair to taxpayers or the American businesses that have made smart decisions, nor is it good government policy.”