H.R.7297 - Emergency Automobile Industry American Jobs Protection Act of 2008110th Congress (2007-2008)
|Sponsor:||Rep. Jackson-Lee, Sheila [D-TX-18] (Introduced 11/20/2008)|
|Committees:||House - Financial Services|
|Latest Action:||House - 11/20/2008 Referred to the House Committee on Financial Services. (All Actions)|
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Summary: H.R.7297 — 110th Congress (2007-2008)All Information (Except Text)
Introduced in House (11/20/2008)
Emergency Automobile Industry American Jobs Protection Act of 2008 - States that any distribution of loan funds to General Motors, Ford, and Chrysler (Big Three) should be conditioned upon their certifying to Congress, before the disbursement, that: (1) U.S. automobile jobs will not be decreased by relocation to foreign countries; (2) automobile dealerships will benefit from the receipt of these loan funds; (3) the Big Three shall provide for the stability of such dealerships; and (4) U.S. automobile suppliers will also be supported by and stabilized such loan funding.
States that no loan funds should be used by the Big Three to allow them to relocate overseas if the relocation causes the loss of U.S. automobile industry jobs, dealerships, or suppliers.
Declares that such loan funds should be used to: (1) ensure the stability of the Big Three; and (2) establish a long-term plan of growth for automobile dealerships and automotive industry suppliers.