November 20, 2008 UAW Pres. calls for action on bailout Play video

(NECN) - United Auto Workers President Ron Gettelfinger said that the Bush administration and Congress must reach an agreement on a rescue package for the domestic auto industry, saying that "inaction is simply not an option."

Gettelfinger acknowledged the disagreement over how the aid should be given and under what terms, but he was adamant that assistance is needed, calling the industry "the backbone" of the domestic economy.

Top Senate Democrats had canceled plans to vote on an auto bailout bill on Thursday, after it looked impossible to pass.

Gettelfinger said that without government help, the Big Three automakers would fold before the year was out.

(The Associated Press contributed to the text of this report.)