KKTV - Economy - Headlines

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."


KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 35711324