[Congressional Record (Bound Edition), Volume 154 (2008), Part 18]
[Senate]
[Pages 24480-24481]
[From the U.S. Government Publishing Office, www.gpo.gov]




                    AUTOMOBILE INDUSTRY LEGISLATION

  Mr. REID. Mr. President, I just finished a meeting with my staff 
representative who has been working with the two Banking Committees and 
the White House on the Detroit situation that we are trying to work 
out. I think there has been a whole lot of progress made. I hope the 
White House will be meeting with Senator McConnell in the near future 
and we can start moving forward.
  We very much want to complete this as soon as possible. I have had 
calls from lots of different Senators, all having very important things 
to do and places to go dealing with their service as a Senator. I think 
it is going to be very difficult to get a vote today. The legislation 
is not drafted yet. Most of it is, but there are a couple provisions 
they are working on. So I think it is very unlikely there will be votes 
today--not impossible but unlikely. It is more likely there will be 
something tomorrow.
  But everyone should understand, if we have a number of Senators who 
are objecting, who want to slow this down--they have a right to do 
that; I understand that--we are going to complete the process. That 
being the case--everyone knows the rules around here; and I do--it may 
be necessary, if we get some push back from some of our Senators, where 
we have to go through the process of moving to proceed and filing 
cloture and all that kind of stuff--if that is the case, everyone 
should understand we are going to work until we complete this.
  The American people want us to make a decision. I am fairly confident 
that all the work that has gone into this is going to bear fruit, that 
we will be able to pass legislation that will be good legislation. It 
will help the workers. When I say ``the workers,'' not only those 
people who are directly employed by the automobile manufacturers, but 
the suppliers, the bondholders, and on and on down the road. A lot of 
people are dependent on our doing something that is appropriate, and I 
think that can be done.
  We are going to have a vote on this sometime. We can either have it 
sooner or we can have it later. But everyone should understand there 
will be no stalling us from doing this. We are going to complete this 
legislation. That may mean--and people have heard me talk about this 
before, but everyone knows I am serious about this--that may mean we 
have to work this weekend. I hope that is not the case. Today is 
Tuesday. But the rules are as they are and we may have to work through 
this. We cannot let a few people stop us from doing the people's 
business.
  I think Senator McConnell and I have the same view; we discussed it 
this morning, that we want to move forward making sure all parties feel 
they have been part of the process. There is nothing we could do that 
would be perfect. So we can only do the best we can; that is, to work 
through this legislation with the art of compromise. We have had to do 
that on this piece of legislation.
  So we will have to wait until the White House completes their 
meetings

[[Page 24481]]

with the leadership on the Republican side. Hopefully, today, we can 
have a better direction as to when we can complete this.
  I think the seriousness of what we are engaged in with Detroit and 
the financial bailout of the banking institutions and the financial 
apparatus of this country has been very hard and difficult, and we need 
to keep moving forward. As everyone knows, thousands of jobs have been 
lost, and we need to get our country back in a position where we are 
talking about and feel good about the jobs that are being gained, not 
the jobs being lost.
  So having said that, Mr. President, I will be happy to answer any 
questions anyone has. They know how to get ahold of me.
  I suggest the absence of a quorum.
  The PRESIDING OFFICER. The clerk will call the roll.
  The assistant legislative clerk proceeded to call the roll.
  Mr. REID. Mr. President, I ask unanimous consent that the order for 
the quorum call be rescinded.
  The PRESIDING OFFICER. Without objection, it is so ordered.

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