Obama urges passage of auto bill

President-elect Obama
on Thursday said he hopes Congress will pass a short-term measure aimed at
helping the ailing domestic auto industry.

“We cannot simply
stand by and watch this industry collapse,” Obama said at a news conference. If
the automakers were to fail, it would have devastating effects on the economy,
he added.

{mosads}Obama made the
remarks as Republican senators are threatening to block the emergency loan
package in the final days before Congress adjourns for the year.

The House passed
a $14 billion rescue package late Wednesday that would prop up the Big Three in
the short term, but only 32 Republican members voted for it. At the same time,
Republican senators from Rust Belt states who helped craft a similar package in
their chamber said they lacked enough support to move the legislation.

Senate Majority
Leader Harry Reid (D-Nev.) has scheduled a decisive test vote for Friday
morning, but a group of GOP senators said they would use all procedural tools
to delay further votes while they worked to advance an alternative bill that
could force the companies to restructure before receiving any government
money. 

Obama on Thursday
said he understands “people’s anger and frustration” with the industry, adding
that he unsuccessfully had urged Detroit to change the way it does business.

However, despite
people’s views on the Big Three, Obama stressed that Congress should pass the
short-term fix that would buy the automakers some time to right their
businesses and keep workers on the job.

Meanwhile, White
House spokesman Tony Fratto said on CNN that the president and other members of
the administration will reach out to Republican senators to discuss the measure
with them.