Hoyer Statement on Auto Industry Restructuring Plans

For Immediate Release:

February 17, 2009

Contact:Katie Grant
Stephanie Lundberg
(202) 225 - 3130

WASHINGTON, DC – House Majority Leader Steny H. Hoyer (MD) released the following statement today after GM and Chrysler submitted their restructuring plans to the Treasury Department:
 
“The preliminary restructuring plans offered by GM and Chrysler today are the next step for the American auto industry as it returns to strength and makes necessary changes to compete in the 21st century economy.  The Obama Administration will review these plans over the next few weeks in anticipation of the March 31st deadline for the auto industry’s final restructuring plans to show that they are on a solid path to return to viability.  Congress is committed to holding the industry accountable for achieving real reform, and will also ensure that taxpayer money is protected.”
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