bailout

U.S. Sen. George Voinovich stepped into the national spotlight that’s shining on the teetering automotive industry during a press conference in Washington on Thursday.

Voinovich (R-Cleveland) helped draft a plan to make auto companies eligible for $25 billion in loans to support the operations of General Motors, Ford and Chrysler before they exhaust their cash reserves. The plan Voinovich worked on aims to free up $25 billion already approved by Congress to auto makers in pursuit of “green” car technology.

U.S. Sen. George Voinovich (R-Cleveland) is working on an alternative to a Democratic plan to give U.S. automakers $25 billion in loans to prevent bankruptcy.

Voinovich's office announced Wednesday that he is drafting legislation to allow previously authorized $25 billion for re-tooling to be used as a general loan. Democrats want the loan money to come from the multibillion bailout passed earlier this year.

Last week Voinoivch wrote a letter with Michigan's two Democratic U.S. senators support of the Democratic plan to make auto companies eligible for bailout money. Voinovich also voted for the $25 billion for re-tooling. 

U.S. House Minority Leader John Boehner (R-West Chester) attacked the idea of a bailout for U.S. automakers a day after U.S. Sen. George Voinovich (R-Cleveland) lent rhetorical support to the idea.

In a statement released Thursday, Boehner said spending money to help automakers without promises to “reform the root causes crippling automakers’ competitiveness around the world is neither fair to taxpayers nor sound fiscal policy.”

voinovich.senate.gov

Sen. Voinovich

U.S. Sen. George Voinovich (R-Cleveland) has come out in support of a bailout of for the auto industry.

Voinovich, who will likely run for reelection in 2010, will join both Democratic senators from Michigan in writing to their senate colleagues asking them to make auto companies eligible for some of the $700 billion in the bailout package passed earlier this year.

House Minority Leader John Boehner (R-West Chester) is asking the U.S. Treasury Department and Federal Reserve to disclose the recipients of $2 trillion in government loans.

Boehner wants both institutions to comply with a Freedom of Information Request filed by Bloomberg, after the news agency reported that the treasury and Fed refused to disclose loan recipients.

U.S. Sen. Sherrod Brown (D-Lorain) told the Senate Banking Committee that the federal bailout won’t work if it doesn’t target foreclosures and there isn’t enough oversight of the bailout.  

Treasury Secretary Henry Paulson announced he would not seek to use taxpayer money to purchase mortgage-backed assets, but instead put money directly into banks hands to facilitate lending.

CINCINNATI -- State Rep. Steve Driehaus (D-Price Hill) is keeping a busy schedule in the final weekend of his campaign for Ohio's 1st Congressional District. He's out on the trail doing retail politics, making contact with as many people as possible before voters head to the polls on Tuesday.

Driehaus said that many people he talks to are happy to tell him they've already voted for him.

"It's amazing to me the number of people who've already voted," Driehaus said. "It's tremendous, and we're seeing that all over the place."

Driehaus said the economy is still the dominant issue on voters mind and said change is what voters are looking for this election season.

Rob Portman: Politicker PhotoRob Portman, one of John McCain's close advisors, revealed the tension inside the presidential campaign in the lead up to McCain's dramatic decision to suspend his campaign last month and tie his fate to the financial bailout bill which was then making its way through Congress.

The former U.S. representative from Cincinnati, who is McCain's chief surrogate in Ohio, was brought aboard McCain's traveling inner circle a month ago as a stand in for Barack Obama in McCain's debate preparation.

"I was there when he made that decision, and it was a gusty decision," Portman told PolitickerOH.com after a Tuesday visit to volunteers in Lewis Center.

As the financial bailout was debated in Congress last month, 15th Congressional District candidate Steve Stivers (R-Columbus) said he was supportive of a bailout. However, in a debate last week, Stivers didn’t say whether he would have voted on the final version of the bailout.

Franklin Co. Commissioner Mary Jo Kilroy (D-Columbus) said she would have voted for the bailout.

But would Stivers have?

Despite being out of Congress, John Kasich is campaigning as hard as ever.

The former Republican U.S. representative from Columbus has done more than 40 fundraisers for GOP state House candidates and his Recharge Ohio political action committee has sent volunteers to knock on more than 35,000 doors for the candidates. At stake is the GOP’s three-seat majority and tipping the balance in state government to Democrats who have the governor’s office.

Kasich said his PAC is vital to preventing Democrats from winning the chamber.

“Outside of the Republican Party, I have no doubt that it’s the most effective organization in helping Republicans in the state,” he said.