Bailout not right for Montana

I recently voted against the proposed government bailout of Detroit’s Big 3 automakers. After all the hearings and debate on the Senate floor, I didn’t believe this bailout was the right thing to do for Montana.

The Treasury Department and President Bush already asked for and received a $700 billion bailout earlier this year. I voted against that bailout, too. But now that the $700 billion is already on its way, I want the government to use that money to assist Detroit rather than Wall Street before we agree to spend even more taxpayer dollars.

From miners to timber workers, many folks in Montana are struggling, and that’s why we need a comprehensive strategy for broad-based economic growth in America. This proposal missed the mark.

The auto bailout we voted on Dec. 11 was the result of hours of negotiations and committee hearings. Ford, Chrysler and General Motors submitted proposals, and while I was glad that the CEOs of these companies took my advice and agreed to accept a $1-per-year salary until they become profitable again, the final legislation wasn’t good enough.

In order to ask Montanans to give their tax dollars, I needed to see smart business plans that would help build our nation’s manufacturing base and put them on the path to viability.

The business plans they proposed didn’t meet my criteria for a common sense use of Montana taxpayers’ money. There was no commitment to building more dependable, fuel-efficient vehicles.

I want a promise that no taxpayer money would ever be used to expand the automakers’ facilities in other countries. And I wanted a commitment that we wouldn’t be bailing them out again in six months. But none of those things were in the Senate bill.

Like the last bailout, no one — not the CEOs, labor unions or outside experts — could assure me the plan would work. The measure did not get enough votes to move forward.

Looking forward, I hope the Senate can agree on a more sustainable plan to rebuild our nation’s economy from the ground up. We’ll do that by creating jobs that put middle-class families to work rebuilding infrastructure which will support small businesses, and by investing in education and renewable energy.

    United States Sen. Jon Tester is a third-generation farmer from Big Sandy.