Pelosi Statement on White House Proposal on Auto Industry

Washington, D.C. -- Speaker Nancy Pelosi issued the following statement today on the Bush Administration's proposal to use money allocated for building fuel-efficient vehicles to aid the automobile industry:

"The President's proposal would unwisely divert money urgently needed for modernization of the U.S. auto industry, so that it can be competitive in the future, making energy-efficient vehicles and meeting our national security imperative of energy independence.  Democrats are working to find a bipartisan solution to sustain the industry that supports 1 in every 10 jobs in America until these technological advances are achieved, while protecting the interests of taxpayers.  The President should join us in this effort."