0 votes  Response from Senator Boxer (CA) to my "no bailout"
email.  Thank you for writing to me about H.R.7321, the Auto
Industry Financing and Restructuring Act. I appreciate hearing
from you on this vitally important issue.  H.R.7321 would have
provided up to $14 billion in bridge loans or lines of credit to
U.S. automakers to help these companies continue to operate. Any
company that received funding could not have paid dividends to
shareholders and would be obligated to pay back American
taxpayers, regardless of the company's success. This bill would
have also limited executive pay, banned large bonuses, required
the companies to sell their private planes, and ensured that
taxpayers benefit from any future profits.  As you probably
know, H.R.7321 passed the House of Representatives but was
blocked by a minority in the Senate. I am deeply disappointed
that the Senate failed to act in support of our nation's
domestic auto manufacturing.  I voted for this bill for three
reasons - jobs, jobs, jobs. This nati