McCain: Hold off on more aid to auto industry

By
October 27, 2008 01:29

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

Republican presidential nominee Sen. John McCain declined Sunday to immediately support $15 billion in additional funding to help US automakers weather the economic downturn but did not rule it out. McCain, in an interview on NBC's "Meet the Press," noted that Congress had recently approved $25 billion in low-interest loans to help the auto industry build more fuel-efficient vehicles. He said the industry should receive that funding before more is added. "Let's get the first $25 billion to them first," said McCain, adding that the government could "see how that works before we say we're going to give you some more." McCain and Democratic presidential nominee Sen. Barack Obama have called for the loans to be expedited to help the industry retool plants and develop more fuel-efficient vehicles. The Energy Department has estimated it could take six to 18 months to fund the projects. Obama has also said the loan program should to be doubled to provide $50 billion.

Related Content

Which party makes the most use of the parliamentary tools available (August 14, 2018).
August 14, 2018
Which party's MK's are most active in Knesset?

By JPOST.COM STAFF