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Rep. Miller wants immediate action on auto loans in wake of Chrysler job cuts
Rep. Miller wants immediate action on auto loans in wake of Chrysler job cutsDavid Shepardson / Detroit News Washington BureauWASHINGTON -- Rep. Candice Miller urged the Energy Department Friday to immediately make available $25 billion in low-cost direct government loans to automakers in the wake of news that Chrysler LLC will cut 5,000 salaried and contract workers. 'The federal government must immediately make available the $25 billion in loans for the auto industry that the Michigan Congressional Delegation worked in a bi-partisan fashion to pass. The Department of Energy's bureaucratic delays in implementing this program have been incredibly frustrating and stand in stark contrast to the immediate action taken by the administration in their efforts to bail out Wall Street,' Miller, R-Harrison Township, said in a statement. 'Goldman Sachs did nothing to create the American middle class, but got immediate help when they got into trouble. Chrysler, Ford and General Motors not only built the American middle class, but also helped to defend our nation in times of national crisis. Further bureaucratic delays are unacceptable and will be met with fierce Congressional opposition.' The Energy Department recently named a director of the loan program and is working to meet a congressional deadline of Nov. 30 to finalize the rules governing the retooling program. But Energy Secretary Samuel Bodman warned in a Sept. 22 leter to Congress that it could take 'six to 12 to 18 months or more' to process and send out the loans, citing a number of legal hurdles.