Bond to Back Auto Legislation

Republican Sen. Kit Bond of Missouri said he would join Democrats in supporting legislation that would prop up America’s ailing auto industry.

“The idea of the government getting involved in the free market is very troublesome and potentially dangerous to the health of our system, but we have to act in unique times of crisis when tens of thousands of Missouri workers are in danger of losing their jobs,” Bond said in a statement.

Bond becomes the second Republican to formally join Democrats to work on legislation in next week’s lame-duck session. Democratic leaders in both chambers are working on a plan that would direct $25 billion of the $700 billion financial rescue package towards America’s car companies. Sen. George Voinovich (R-Ohio.) said this week he is signing a letter with Michigan Dem. Sens. Carl Levin and Debbie Stabenow to be circulated Monday in support of auto legislation.

Bond expressed disapproval about supporting government intervention, but he noted that 200,000 workers in Missouri could lose their jobs if America’s automobile manufacturers were to file for bankruptcy.

He is stressing that restrictions be added to legislation to protect taxpayer money and to require a long-term plan for the companies to remain competitive.

–Silla Brush