Washington, D.C. – Congressman Dale E. Kildee (D-MI) made the following statement in reaction to today’s announcement extending $17.4 billion in immediate bridge loans to General Motors and Chrysler:

“I am, of course, very pleased that President Bush has finally used his authority to meet the immediate financial needs of GM and Chrysler. Michigan has been eager for a glimmer of good news as many plants have been idled for the weeks ahead, and today’s action is critical to secure the jobs of millions of Americans.

“As we take this first step toward ensuring that American automakers arrive at the path to a viable future, we should not balance that future primarily on the backs of wage-earners. President Bush’s proposal attempts to place greater sacrifices on Michigan’s working families than any other stakeholder in the auto industry.

“Barack Obama has been more understanding of the important role that the automakers and its workers play in the economy, and I will urge him to drop these impractical requirements on autoworkers when he takes office in January.”