A Short-Term Financial Aid Bill for the Domestic Auto Industry

By December 6, 2008Economy, Labor Unions

New York Times, “Democrats Plan Short-Term Rescue for Automakers“:

WASHINGTON — Faced with staggering new unemployment figures, Democratic Congressional leaders said on Friday that they were ready to provide a short-term rescue plan for American automakers, and that they expected to hold a vote on the legislation in a special session next week.

Seeking to end a weeks-long stalemate between the Bush administration and House Speaker Nancy Pelosi, senior Congressional aides said that the money would most likely come from $25 billion in federally subsidized loans intended for developing fuel-efficient cars.

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