Progress Made In Bailout Plan For Big 3 Automakers

By: Associated Press
By: Associated Press

A White House spokeswoman says it is "very likely" that the Bush administration could reach a deal with Congress on Monday to get emergency aid to failing U.S. automakers. But she expressed concern that the White House has not seen a specific proposal from Democrats.

Referring to Democratic leaders on Capitol Hill, White House press secretary Dana Perino said Monday: "If they want to work with us, we'll meet them halfway."

An emerging bailout plan would draw emergency aid from an existing loan program meant to help the automakers build fuel-efficient vehicles. The size of the package hasn't been finalized, but it is expected to be about $15 billion.

Perino said that if lawmakers want to hold a vote by Tuesday, they need to provide legislative language to the White House. She said the White House was looking for a better bipartisan effort "so we can get this done."


You must be logged in to post comments.

Username:
Password (case sensitive):
Remember Me:

Read Comments

Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Ann Location: c/s on Dec 8, 2008 at 12:45 PM
    Do not bale out the auto industry. They have been milking society on prices of cars for years. Get rif of the Union.
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 35711324 - kktv.com/a?a=35711324
Gray Television, Inc.