WASHINGTON, Dec. 14 (UPI) -- The White House is mulling ways to get a bailout package for U.S. automakers approved by Congress, a senator said Sunday.
The House of Representatives approved a bailout bill for the Big Three automakers Wednesday, but the legislation failed to muster enough support to pass the Senate.
"It's my understanding that Treasury officials are actually going through the balance sheets of the companies, talking with them about where they are," Sen. Bob Corker, R-Tenn., said in an appearance on "Fox News Sunday."
An alternative plan by Corker would set up a process similar to bankruptcy for the automakers to restructure and demand pay cuts from the United Auto Workers union.
Sen. Debbie Stabenow, D-Mich., said Senate Republicans have asked too much of workers in her state.
"Every other country in the world that has an automaker presence is stepping up to help them get through that because they know it's critical to their economy, it's critical to jobs, and it's critical to their national defense," she said.
