Congress sends president $15B auto bailout
auto bailout takes shape
dems and white house working out details.Published: December 9, 2008
Updated: December 9, 2008
Congressional Democrats and the White House are trying to resolve remaining differences over a $15 billion rescue for Detroit automakers.
The Bush administration says the measure doesn’t do enough to ensure that only viable companies would get longer-term federal help.
President George W. Bush, in an interview with ABC’s “Nightline,“ says it’s “hard to tell” if an agreement is imminent.
The package, which calls for a “car czar” to oversee industry restructuring, is expected to come to a vote as early as Wednesday.
House Speaker Nancy Pelosi says the restructuring would require tough concessions from management, labor, creditors and others.
Michigan Democratic Sen. Carl Levin, who’s a key ally of the auto industry, says getting enough Republicans to back the bill could be an uphill climb.
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