Auto suppliers vie for $25 billion promise

WASHINGTON, Sept. 19 (UPI) -- U.S. truck and auto suppliers knocked on doors in Washington Friday to drum up support for a $25 billion loan program authorized last year.

The $25 billion, earmarked in the 2007 Energy Independence and Security Act, comes with the stipulation that automakers increase their vehicles' gas mileage. However, the low interest loan requires an appropriation of about $7 billion, which has not been authorized.

Members of the Motor and Equipment Manufacturers Association, representing 700 businesses, planned to meet with 40 members of Congress with the message that the money could save jobs, The Detroit News reported Friday.

The trade organization's businesses include 783,000 employees, MEMA said.

The governors of nine states, including Michigan, have also lobbied for the appropriations, the News reported.

"This is a direct loan program. The money will be paid back," said MEMA's director of external affairs Ann McCulloch.