Auto Industry and Congress, Last Ditch
Thursday, November 20, 2008Washington Post, “As Support for Auto Aid Stalls, Efforts Shift to GOP Loan Plan“:
Congressional allies of the auto industry were rushing late yesterday to put together a bipartisan aid package for faltering Detroit car companies, but lawmakers said they may leave town today without taking action.
That proposal, which was endorsed by the White House, calls for modifying a loan program created to help the automakers develop advanced technologies and retool factories to produce more fuel-efficient vehicles. Sen. George V. Voinovich (R-Ohio) said the money would be given to the automakers temporarily to fund day-to-day operations. But when the money was repaid, he said, the loan program would be used for its original purpose.
- Reuters, “Auto bailout prospects fade; last ditch effort made“
- Wall Street Journal blog, Real Time Economics, “Detroit’s Next Chapter: Three Possibilities“
And several local reax.
- Montgomery Advertiser (Al.), “What impact would proposed bailout have on Alabama?”
- Jim Brown column, Bayou Buzz, “Louisiana Economy Needs Automotive Industry Bailout“.
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