Bilbray Releases Statement on Automaker Bailout Plan

(Washington D.C.)- Rep. Brian Bilbray, a member of the House Committee on Oversight and Government Reform, released the following statement today regarding the President Bush’s plan to use $17.5 billion of TARP funds to provide a bailout for Detroit automakers:

“Washington has no business choosing industry winners and losers.  Once again, Congress and the American people were told one thing and now something else is being done with their tax dollars.  TARP funds were never intended for this purpose and the oversight and transparency measures that were supposed to be put in place have been nothing but an afterthought.”  

From a GAO Report recently released:

“…there is a heightened risk that the interests of the government and taxpayers may not be adequately protected and that the program objectives may not be achieved in an efficient and effective manner.”  

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