Local congressman, Allen Boyd, is against the auto industry bailout, voting NO on it Wednesday. Boyd says he is not convinced that bailing out the U.S. auto industry will grow our economy or protect the taxpayers.
The Auto Industry Financing and Restructuring Act passed in the House of Representatives by a vote of 237 to 170. The bill now awaits the Senate's consideration. If the bill passes, it could divvy out 15 billion in loans to aid the U.S. auto industry.