Pelosi Statement on Chrysler’s Repayment of Outstanding Loans

Contact: Nadeam Elshami/Drew Hammill, 202-226-7616
Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today on Chrysler’s repayment of its outstanding loans to the U.S. Treasury, six years ahead of schedule:

“Six years ahead of schedule, Chrysler today paid back American taxpayers the financial assistance that helped the company to become more viable and energy-efficient. All Americans should be proud of Chrysler’s significant turnaround. Indeed, the swift actions taken by President Obama and the Democratic Congress not only made all three U.S. automakers more innovative and globally competitive, but saved more than 1 million American jobs.

“The auto industry is essential to a strong industrial, technological, and manufacturing base in our country. And when we make it in America, we spur innovation and strengthen our national security. That’s why Democrats stood by the American auto industry in difficult times and celebrate its return to profitability.

“Today’s news is a sign of the progress that can be made when we invest in our manufacturing base, in our workers, and in competitiveness for the future. Chrysler is now creating jobs and our country is better off because of it.”