WASHINGTON – With the nation’s auto workers threatening to walk off the job at midnight Thursday, the Biden administration is preparing to offer emergency economic aid to auto suppliers to protect them from any long-term damage in the event of a prolonged strike, according to published reports.
The Washington Post, citing anonymous sources aware of internal conversations, said Biden aides are worried that a protracted strike could wipe out thousands of suppliers that depend on businesses from three key automakers, Ford, General Motors and Stellantis, formerly Fiat Chrysler.
The paper said it was not clear what aid might be offered, but that one option would be for the Labor Department to provide grants to help workers at firms affected by the strike. Another could be for the Small Business Administration to provide favorable loans to these firms.
Reuters also reported that an emergency aid package was under consideration.
The White House and the United Auto Workers declined to comment.
Yahoo Finance: “Biden says strike unlikely”