Bush waiting for Congress on auto question

Published: Nov. 14, 2008 at 6:36 PM

WASHINGTON, Nov. 14 (UPI) -- The White House is waiting to learn what the U.S. Congress does on a possible bailout for automakers, a spokeswoman said Friday.

Industry experts say they fear at least one of the three Detroit automakers will fail if a bailout isn't passed when Congress returns to Washington next week for its lame-duck session.

"Well, right now we're waiting to know what the leadership in Congress wants," White House spokeswoman Dana Perino said during a news briefing. "We're trying to talk to them about what they might or might not put forward."

Some congressional Democrats said they may seek a $25 billion package for the automakers, but admit its chances of passage are bleak because they lack the votes.

The $25 billion package would be in addition to the already passed $25 billion in low-interest loans to help automakers retool their facilities to make more fuel-efficient cars. U.S. Treasury Secretary Henry Paulson and President George Bush expressed reluctance to use funds from the $700 Wall Street bailout, saying the package was passed to help financial institutions.

"We think the $25 billion that they've already authorized and appropriated and that we've designed through the regulations would be something that they might consider accelerating to those companies," Perino said. "But they would have to pass legislation to do that. So we're waiting on them to do that."

© 2008 United Press International, Inc. All Rights Reserved.
Order reprints



Additional News Stories
Man says wedding was a sham (10 min)
Crude oil holds under $73 per barrel (24 min)
Gatorade cuts Tiger loose (28 min)
Reid given contract extension by Eagles (29 min)
U.S. markets slide early Wednesday (32 min)
AOL: An innovator playing catch up (55 min)
Drug promising in immune system therapy
fark
Investigators say the pilot of a small plane that crashed was neither drunk nor high (enough)
One more time for those who missed the memo: 1. Since you might someday lose your mobile phone,...
Holy cow
"Oh no. My windshield is busted...That's okay, I'll use this cardboard...Oh no. Now I can't see...That's...
A blood-alcohol level of .39 will do a number on anyone's liver, but what's really impressive is...
Photoshop this lit up lady bird