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Elizabeth Baier
St. Paul, Minn.

Klobuchar against auto industry bailout

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A pedestrian walks by graffiti on a downtown street in Detroit. An estimated one in three Detroiters lives in poverty, making the city the poorest large city in America. The Big Three U.S. automakers, General Motors, Ford and Chrysler, are appearing this week in Washington to ask for federal funds to curb to decline of the American auto industry. Detroit, home to the big three, would be hardest hit if the government lets the auto makers fall into bankruptcy.
Photo by Spencer Platt/Getty Images

Senator Amy Klobuchar, D-Minn., said she would have voted against the $25 billion auto industry bailout if it had come to a vote.

Congressional leaders delayed action on the bill after it became clear there were not enough votes for the package.

Klobuchar said she was initially inclined to support the rescue package, but changed her mind after listening to testimony this week from executives of the big three American auto makers.

Klobuchar said she wants the auto companies to present a plan showing the money will make them more financially viable.

"After listening to their testimony I think a lot of questions have been raised about the financial standing of the companies going forward. And I'm very concerned that the current packages planned would be nothing more than a temporary fix," Klobuchar said.

Senator Norm Coleman, R-Minn., came out against the plan earlier this week.

The auto executives warned that their industry could collapse without the loans.

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A pedestrian walks by graffiti on a downtown street in Detroit. An estimated one in three Detroiters lives in poverty, making the city the poorest large city in America. The Big Three U.S. automakers, General Motors, Ford and Chrysler, are appearing this week in Washington to ask for federal funds to curb to decline of the American auto industry. Detroit, home to the big three, would be hardest hit if the government lets the auto makers fall into bankruptcy.
Photo by Spencer Platt/Getty Images