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."

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  • 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.
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