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Capito Statement On Latest Automaker Hearing

Press Release

Date: Dec. 5, 2008
Location: Washington, DC
Issues: Business and Consumers Finance and Banking


Capito Statement On Latest Automaker Hearing

Rep. Shelley Moore Capito (R-WV) released the following statement today after questioning representatives of American automakers at a House Financial Services Committee Hearing:

“I appreciated today's testimony and I'll be keeping an open-mind about any forthcoming legislation, but we've seen the pitfalls of the financial bailout and we must be cautious before committing to spend still billions more of the taxpayers' dollars,” said Capito.

“These are trying economic times and we're all concerned about the state of the American automotive industry. After all, auto-dealers and automotive suppliers form an important component of the West Virginia economy. Yet, we must also be mindful of the taxpayer.

“Other companies have faced similar dire situations in the past with thousands of West Virginians losing their jobs -- all without a bailout. The American people deserve a clear understanding of what would make the auto-industry different.”


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