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House OKs $25B Detroit Rescue

Package of low-interest loans aims to prop up staggering auto industry

By Rob Quinn,  Newser Staff

Posted Sep 25, 2008 3:29 AM CDT

(Newser) – The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the...   Read full story »

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