Bond emerges as unlikely advocate for auto bailout
Bond
As our Washington bureau chief Bill Lambrecht reports, Missouri Sen. Kit Bond has emerged as a leading advocate — and, perhaps, an unlikely one — in pushing for a $25 billion rescue plan for the auto industry.
Lambrecht says that Bond and Republican Senate colleague George Voinovich of Ohio have co-authored a proposal that would allow the car companies to divert money aimed at promoting fuel-efficiency and make it available as loans for general operations.
Bond and Voinovich met a short time ago with Michigan’s Carl Levin – who, for obvious reasons, has been leading the push to help Detroit’s Big Three — hoping to get Democrats on board.
The Bond-Voinovich plan does have the support of the White House, which urged Congress today to put it up for vote.
Bond is one of only a handful of Republican senators backing help for the auto industry. It might be an improbable stance for a veteran conservative whose website boasts that “government doesn’t create jobs, businesses do.”
However, Bond is facing re-election in two years, and if he is able to take credit for saving jobs at the assembly plant, it can only help his chances.
If Kit Bond wants to loan the Big 3 $25 BILLION dollars of his own money, with no conditions or concessions, go for it. Otherwise, the taxpayers want assurances and guarantees that our money will be repayed in full.
Guess he is running for re-election.
Why is it unlikely that Bond would emerge as pro-bailout? He voted for the financial industry bailout, and he loves pork.