$15 Billion to Keep Detroit Automakers Going Until January
December 7, 2008 by admin
Democratic leaders and the White House reached a deal to provide billions of dollars in relief to the ailing U.S. auto industry. The package, which Democratic leaders hope to win passage of next week and send to President George W. Bush, totals between $15 billion and $17 billion.
The amount is far less than the $34 billion requested this week by General Motors, Ford Motor, and Chrysler, but Democratic leaders believe the money will keep them going until Barack Obama replaces Bush as president on January 20 and a new effort can be made for a rescue plan.
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