To express the sense of the Senate that the investment by the Federal Government in the automotive industry of the United States is temporary.

SA 1874. Mr. NELSON of Nebraska proposed an amendment to amendment SA
1813 submitted by Mr. Dorgan to the bill H.R. 3183, making
appropriations for energy and water development and related agencies
for the fiscal year ending September 30, 2010, and for other purposes;
as follows:

In the appropriate place, insert the following:
Sec. __. (a) The Senate finds that--
(1) the United States is facing a deep economic crisis that
has caused millions of workers in the United States to lose
their jobs;
(2) the collapse of the automotive industry in the United
States would have dealt a devastating blow to an already
perilous economy;
(3) on December 19, 2008, President George W. Bush stated:
``The actions I'm announcing today represent a step that we
wish were not necessary. But given the situation, it is the
most effective and responsible way to address this challenge
facing our nation. By giving the auto companies a chance to
restructure, we will shield the American people from a harsh
economic blow at a vulnerable time and we will give American
workers an opportunity to show the world, once again, they
can meet challenges with ingenuity and determination and
bounce back from tough times and emerge stronger than
before.'';
(4) on March 30, 2009, President Barack Obama stated: ``We
cannot, and must not, and we will not let our auto industry
simply vanish. This industry is like no other--it's an emblem
of the American spirit; a once and future symbol of America's
success. It's what helped build the middle class and
sustained it throughout the 20th century. It's a source of
deep pride for the generations of American workers whose hard
work and imagination led to some of the finest cars the world
has ever known. It's a pillar of our economy that has held up
the dreams of millions of our people. . . .These companies--

[[Page S8282]]

and this industry--must ultimately stand on their own, not as
wards of the state.'';
(5) the Federal Government is a reluctant shareholder in
General Motors Corporation and Chrysler Motors LLC in order
to provide economic stability to the United States;
(6) the Federal Government should work to protect the
investment of the taxpayers of the United States;
(7) the Federal Government should not intervene in the day-
to-day management of General Motors or Chrysler; and
(8) the Federal Government should closely monitor General
Motors and Chrysler to ensure that they are being responsible
stewards of taxpayer dollars and are taking all practicable
steps to expeditiously return to viability.
(b) It is the sense of the Senate that--
(1) the Federal government is only a temporary stakeholder
in the automotive industry of the United States and should
take all practicable steps to protect the taxpayer dollars of
the United States and to divest the ownership interests of
the Federal Government in automotive companies as
expeditiously as practicable; and
(2) the Comptroller General of the United States, the
Congressional Oversight Panel, and the Special Inspector
General for the Troubled Assets Relief Program should
continue to oversee and report to Congress on automotive
companies receiving financial assistance so that the Federal
Government may complete divestiture without delay.
______