Chesterton Tribune                                                                                   Adv.

Visclosky letter to Bush 70 percent of US steel industry could face bankruptcy this year

Back to Front Page

By KEVIN NEVERS

U.S. Rep. Pete Visclosky, D-1st, has drafted another letter to President Bush in his capacity as vice-chair of the Congressional Steel Caucus, this one urging the president to call a meeting on efforts to protect the U.S. steel industry from collapse.

"As you may know," that letter reads, "the steel industry is in the throes of a crisis of tremendous severity with potentially devastating results. . . . This financial weakness permeates the industry. Even if the economy does not continue to falter, it is likely that fully 70 percent of the domestic steel industry will be in bankruptcy proceedings before the end of the summer."

"The executive and legislative branches of government must be ready to act quickly and in accord to promote the health of the domestic steel industry. To facilitate this quick action, we respectfully request the opportunity to meet with you to discuss our concerns about the industry and the role that you play in keeping a steel industry on U.S. soil.

Steel is a vital national interest. It not only provides jobs to hundreds of thousands of American workers, it is also at the heart of our national defense. If we become reliant on foreign steel, as we are reliant on foreign oil, we will place our national security in the hands of others. We hope that you will agree that the maintenance of a viable domestic steel industry must be a cornerstone of American economic and military policy."

Said Visclosky in a statement released last week, "We need President Bush to commit himself to the vigorous enforcement of our current laws to ensure that American steelworkers do not fall prey to illegal trade practices. I hope that the President will fairly consider and expeditiously accept the Congressional Steel Caucus' request for a meeting with him to discuss this matter, and other issues of interest to the domestic steel industry.

President Bush has made impressive attempts to meet with members of Congress on a bipartisan basis since the beginning of his Administration, and this would be a great opportunity for him to once again reach out across party lines to understand the problems that the domestic steel industry currently faces."

 

 
 
--mstheme-->