"NADA commends the Senate and House leaders who fought to keep the dealer rights amendment in the spending bill. We look forward to the President signing this into law soon," NADA says in a release.
"As with any compromise, this is not a perfect solution. However, this is far better than any of the other previous proposals. It's appropriate that Congress addressed the legislation this week that focuses on small business, Main Street and jobs."
"During a year with so many other pressing national issues, these House and Senate leaders devoted a significant amount of their time to address the dealer closure issue. And we very much appreciate their efforts."
"Congressional passage of the dealer rights amendment is the culmination of months of work by NADA and other dealer groups to obtain a fair and meaningful arbitration process for affected dealerships."
The plan will allow for a binding arbitration process for dealers, in an attempt to determine if they should be reinstated. The only ones who aren't eligible for the review process are the dealers of terminated brands. The arbitration will be funded through a $447 billion year-end spending plan.
So far, nearly 800 Chrysler dealerships were closed, with the other manufacturer GM, considering slashing an extra 1,300 dealerships by October 2010.