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Don't Let Auto Bailout Stop Innovation
December 5, 2008
Posted by: Carol
San Jose Mayor Chuck Reed and San Francisco Mayor Gavin Newsom released the following letter today to congressional leadership. The mayors are advocating for Congress not to reallocate funds intended for advanced transportation technology innovation and identify a different mechanism to finance efforts to improve the viability of the American auto manufacturers.
"Innovation is the key to ensuring America's economic future. It is critical that any agreement to assist the American auto manufacturers not divert funds from innovative emerging transportation technologies that will help our nation grow out of the current recession by creating thousands of new green jobs, reduce dependence on foreign oil, and improve our trade balance, while protecting our planet," said Mayors Reed and Newsom.
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