HELENA
All three members of Montana's congressional delegation voted against a proposed $14 billion measure to help keep U.S. automakers in business. Sen. Jon Tester said he'd rather have seen the Treasury Department use the money it already has from the Wall Street bailout before another bailout was passed. "In order to ask Montanans to give their tax dollars to the automakers, I needed to see a solid business plan, a commitment to building more dependable, fuel-efficient vehicles, and a promise not to use taxpayer money to expand operations in other countries," Tester said in a statement Friday. "But those were not in the Senate bill,and that is why I opposed it. No one not the CEOs, labor unions, or outside experts could assure me this plan would work." Tester also said the cost of the short-term loan, which automakers said would get them through March, didn't make sense when they had earlier said a $34 billion bailout could potentially get them through 2010. "I just thought $15 billion is a lot of money, and to keep coming back every three months for a check from the taxpayers is not acceptable," Tester said. Sen. Max Baucus objected to a provision that would have provided federal guarantees for complex financial transactions between major transit agencies and investors. "This provision aimed at protecting transit agencies really just helps the banks that entered into these sham transactions in their attempts to avoid taxes," said Baucus, chairman of the Senate Finance Committee. Rep. Denny Rehberg said the bill didn't contain enough safeguards to protect taxpayers. "It's obvious we need to get some sort of economic relief passed quickly, (but) any assistance for the Big Three auto companies must be more than a multibillion-dollar, short-term loan," he said. All three said they expect some kind of auto bailout package to come before Congress when it reconvenes next month, and all would like to see a real plan from the auto companies on how they can emerge from the current economic crisis as stronger companies. (AP)
