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December 2, 2008 8:34:49 PM CST

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Dems Put Auto Aid in Fast Lane

Posted Sep 10, 08 9:37 AM CDT in Business,  Politics 

(Newser) – House Democrats are considering a $25 billion rescue plan for the flagging US auto industry, the Los Angeles Times reports, hoping to speed the measure through Congress in a matter of weeks. “This is very, very important,” said Nancy Pelosi. “It's about jobs. Jobs, jobs, jobs, jobs.” It’s also about votes —major auto industry centers like Michigan and Ohio are also battleground states.

The aid, a series of low-interest government loans, is intended to help Detroit develop more fuel-efficient vehicles. Democrats are still deciding whether to strap the loans to an energy bill, or a broader economic stimulus measure. One GM spokesman voiced the auto industry’s view: “The best bill to include this in is the bill that has the best chance of getting passed.”

Source Los Angeles Times

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In this June 22, 2007 file photo, Ford Motor Company employee Ralph Gazzillo assembles the 2008 Ford Taurus X at the Chicago Assembly Plant.   (AP Photo/M. Spencer Green, file)
House Speaker Nancy Pelosi, D-Calif. gestures during a news conference on Capitol Hill in Washington, Tuesday, Sept. 9, 2008, as Rep. Rahm Emanuel, D-Ill., listens at left.   (AP Photo/Susan Walsh)
In this June 22, 2007, file photo, a Ford Motor Company employee watches chassis for the 2008 Ford Taurus, 2008 Ford Taurus X, and Mercury Sable roll by on the assembly line.   (AP Photo/M. Spencer Green, file)
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auto industry • Nancy Pelosi • economic stimulus • House Democrats • Federal aid


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