'The projected economic fallout for the (auto) industry is grave,' reads the bipartisan letter signed by nine lawmakers from Michigan, Ohio, Tennessee, Texas and Alabama, all states with big auto manufacturing plants.
A bipartisan group of lawmakers led by are pushing U.S. House leaders to include the American auto industry in the next round of stimulus spending.
Line workers work on the chassis of full-size General Motors pickup trucks at the Flint Assembly plant on June 12, 2019 in Flint, Michigan.With Washington authorizing trillions of dollars in economic aid for thousands of companies, ranging from small businesses to the largest airlines, some on Capitol Hill believe it's time to help out the auto industry.
U.S. auto sales are estimated to fall by as much as 30% this year, they said. In April, the pace of auto sales fell to 8.6 million vehicles as North American auto plants remained closed for most of last month, according to the research firm AutoData, which tracks industry sales. That pace of sales is down 48% from 2019 when industry sales topped 17 million vehicles for a fourth straight year.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Most 2020 swing state voters want more direct payments during coronavirus, CNBC/Change Research poll finds74% of swing state voters approve of sustained direct payments to Americans during the coronavirus pandemic, according to a new CNBC/ChangePolls survey.
Read more »
Lawmakers Are Bitterly Divided Over How To Get More Stimulus Cash To AmericansA series of heated debates are coming to the fore in Washington over how best to get additional relief funds into the hands of cash strapped Americans by theothersarahh
Read more »
Ford and 3M begin shipping respirators to frontline health workers fighting coronavirus pandemicApproximately 90 paid volunteers from the United Auto Workers union have assembled more than 10,000 of the respirators at a Ford facility near Flat Rock, Michigan.
Read more »
Stimulus Bill’s Business Tax Break Gets a Second Look From DemocratsAs Congress begins considering the next round of economic-relief legislation, some lawmakers are pressing to revisit a decision to give unprofitable companies more than $150 billion in tax breaks.
Read more »
De Blasio: Chris Christie comments on reopening economy 'unconscionable'New York City Mayor de Blasio responds to fmr. New Jersey Gov. Christie’s push to reopen the economy: “I get very worried … when I hear folks putting the almighty dollar on a pedestal above saving human life.”
Read more »
Republicans seek tax cuts in next coronavirus bill; senator warns Congress may spread virusU.S. Republicans underscored the need for tax cuts and business liability protections in any new coronavirus legislation on Tuesday, while blocking a Democratic attempt to require transparency for a $650 billion-plus program for struggling small businesses.
Read more »