Schumer Pushes for 'Car Czar' Appt. Early Next Week

Sen. Charles SchumerCharles SchumerConvention shows Democrats support fracking, activists on the fringe Dem ad blasts Indiana senate candidate on Social Security The Trail 2016: Unity at last MORE (D-N.Y.) is pressing for Congress to create a 'car czar' position by early next week to guide a bailout process for the Big Three.

Schumer sent a letter to colleagues today pushing the idea, which he forwarded at yesterday's Senate Banking Committee hearing where the CEOs of GM, Ford, and Chrysler testified. The so-called czar, under Schumer's plan, would guide restructuring talks with the companies and disburse bailout funds.

The czar would also be empowered to offer a government guarantee on car warranties.

GM and the Government Accountability Office have each proposed that Congress grant oversight authority to a board, rather than an individual.

See a copy of Schumer's letter below:

December 5, 2008

Dear Colleague,

At yesterday

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