The Obama Administration has rejected additional aid for the automotive components sector, but U.S. Sen. Sherrod Brown yesterday proposed a plan for helping them and some other manufacturers from careening off course.
Mr. Brown said he will introduce legislation to establish a $30 billion revolving loan fund that small and medium-size manufacturers could use to become more energy-efficient or switch to production of components for the solar, wind, and other industries involved in so called "clean energy."
The Ohio Democrat announced the proposal in a conference call with reporters.
"Ohio has the manufacturing base and skilled workers to become the Silicon Valley of clean-energy manufacturing," Mr. Brown said. "This bill will help our manufacturers retool, put our auto suppliers back to work, and place our state at the forefront of clean-energy production."
To read the rest of this article, please click the source link aboveSen. Brown Seeks Loans to Assist Auto Parts Firms »