BusinessWeek Cites CEI on the Auto Industry Bailout

BusinessWeek quoted CEI’s own Sam Kazman in a recent piece, “Automakers’ $25 Billion Fast-Track Bailout,” about the auto industry’s recent run to Washington for part of the $700 billion bailout debacle:

The Competitive Enterprise Institute (CEI) condemned the bailout proposals as a huge mistake that would hurt taxpayers and, ultimately, the auto industry itself.

“Congressional attempts to favor domestic automakers will be a waste of taxpayer money, a skewing of automaker competition, and an invitation for even more industries to seek bailouts in the future,” said Sam Kazman, CEI general counsel. “If Congress wants to help the auto industry, the best way to do so is by repealing the stringent fuel economy standards that it enacted last December,” Kazman added. “With gas prices dropping, fuel economy mandates will become an even tighter noose around the industry’s throat. Meanwhile, thousands of vehicle occupants will be killed due to reduced crashworthiness as the industry downsizes automobiles to meet the standards.”

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