Rep. Maloney: New Report Shows Why Failure For the Big 3 Automakers is Not an Option
"Rep. Carolyn B. Maloney, Vice Chair of the Joint Economic Committee (JEC), released a report today entitled “The Ripple Effect: Why Failure for the Big 3 is Not an Option.” The domestic auto industry represents over 10 percent of the nation’s manufacturing employment. This includes employment by the Big Three, direct suppliers, production plants and new car dealers. Collapse of the three U.S. automakers will have serious negative spillover effects in industries from tire manufacturers to technology firms researching future innovations and prevent any future progress on improving our trade balance. A conditional bridge loan is crucial in helping the Big Three survive the current economic recession.

A complete copy of the report can be found here.