They have not said that. After the way the GOP handled this thing, no one could trust them; they might filibuster legislation providing this financing. Plus, this would not help the supplier issue. Suppliers are already talking to bankruptcy lawyers. It would also cost a great deal more and take years. Years in which few cars are sold and perhaps not even manufactured. Courts do not move quickly. Why do this-begin a complicated procedure which would take years and might not work? Now that’s throwing good money away.
Well, yes they have. Any bill providing DIP financing from the Feds would have practically unanimous support from the right.
You would find, however, hesitance on the part of the left.
The GOP handled this responsibly; they offered a restructuring that would accomplish much of what a Chapt 11 would, without the stigma or complications of BK.
If you care to search, you'll find where I've been mocked for pointing out how disruptive a BK filing would be.
My position is simple and clear: no loans for companies that are not viable. I know Chrysler is not viable, and I suspect GM is not, either. Ford, it's an open question.
I'm willing to be as concerned as the UAW is. They KO'd the Senate agreement because they figured they could do better. I say, good luck with that.
The UAW has been given an alternative to Chapt 11. It's up to them whether they take it.