Saturday, December 13, 2008

Auto Industry Financing and Restructuring Act.
"The purposes of this Act are—

(1) to immediately provide authority and facilities to restore liquidity and stability to the domestic 3 automobile industry in the United States; and
(2) to ensure that such authority and such facilities are used in a manner that—
(A)results in a viable and competitive domestic automobile industry that minimizes adverse effects on the environment;
(B) enhances the ability and the capacity of the domestic automobile industry to pursue the timely and aggressive production of energy efficient advanced technology vehicles;
(C) preserves and promotes the jobs of American workers employed directly by the
domestic automobile industry and in related industries;
(D) safeguards the ability of the domestic automobile industry to provide retirement and health care benefits for the industry’s retirees and their dependents; and
(E) stimulates manufacturing and sales of automobiles produced by automobile manufac
turers in the United States.

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