Big 3 automakers need to restructure

Once again, the President and House Democrats have brought forward a massive bailout plan which falls short of providing adequate protections for taxpayers. As a result, my offices are again being flooded with calls from folks in Montana with one request — vote no.

While it’s obvious we need to get some sort of economic relief passed quickly, any assistance for the Big 3 auto companies must be more than a multi-billion dollar short-term loan.

For example, we must include firm benchmarks and tight timelines regarding how these companies restructure. These companies must be willing to take cost-saving measures internally before they’re given one dime of taxpayer funds.

Additionally, it’s essential we work with these companies to explore every option to expedite the hurdles they will face during restructuring. This must be done without political pressure that will only exacerbate the current financial situation facing the auto industry.

I’m hopeful we can go back to the drawing board and develop a plan that works not only for Detroit, but Montanans as well.

Rep. Denny Rehberg is Montana’s lone House representative.