After the Paulson $700 billion bailout package passed in early October, we knew it was only a matter of time before Congress moved to use your money yet again to bail out a struggling industry.
Now, a vote to give funds to the “Big 3” auto manufactures, GM, Ford, and Chrysler, is likely to come up in the Senate tomorrow.
Call your Senators today and ask them to oppose bailing out the auto industry, whether with funds from TARP, revisions of previous loans, or any new grants. To find the information for your Senators, click on our “States” page and look for your state. Phone numbers and links to contact forms can be found near the bottom of each state’s page. We have included recommended letters at the end of this email to send your Senator.
The ultimate fate of the auto industry bailout remains uncertain, and it is crucial that we contact our Senators today and urge them to stick to the Constitution and free market principles.
Please also consider making a donation to Campaign for Liberty today to aid us in our efforts to fight big government policies at the local, state, and federal levels. Together, we will achieve our goals of reclaiming our Republic and restoring our Constitution.
Campaign for Liberty
Dear Senator (Name),
I urge you to oppose any bailout of the auto industry, whether by taking existing funds from TARP, revising any previous loans, or making new grants.
The auto industry is lobbying hard for taxpayer money when they should be entirely focused on restructuring their companies and recouping their losses. There is no guarantee that a government handout will have any positive effect, and that GM, Ford, and Chrysler will not be back in a few months asking for additional billions.
Since a bailout will only delay the economic consequences of the Big 3’s current predicaments, Congress should allow the market to work so that the fallout can be dealt with and overcome as quickly as possible.
Instead of handing out more of the taxpayers’ money and moving further away from the free market ideas that made America great, I ask you to:
1.) Curb regulation: The auto industry is already one of the most heavily-regulated industries, and a bailout will bring more government regulation and additional costs. Alleviating even a little of the red tape would free up resources for them to address their financial situations, save jobs, and produce quality products to jump-start sales.
2.) Cut taxes: Cutting corporate and capital gains taxes would give these companies immediate funds to put toward their problems. Cutting individual income taxes would return much needed money to workers and consumers, strengthening their financial positions and purchasing power during these turbulent times.
Taking just these two steps will save the industry far more in the long run than the numbers currently being proposed for the bailout.
Additionally, because the Paulson TARP plan has abandoned its originally stated purpose of buying toxic assets, is not holding up its promises to be transparent, and has not been properly accountable to Congress, no further expenditures should be authorized until the Treasury Department presents a full accounting to Congress of how it has already dispersed TARP funds.
Since the election, Republicans have talked of returning to their limited government message. This is a chance for you to prove your commitment to free market capitalism and the freedom philosophy by demonstrating that the Republican Party will be worthy of our trust in the next Congress. A vote for another bailout will send the signal that, despite any lip-service paid to limited government principles, Republican talking points of defending them are cheap and little more than campaign rhetoric.
The answers to our economic problems cannot be found in further government intervention. As your constituent, I urge you not to put my tax dollars on the line and to vote “no” on the auto industry bailout.