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Senate to take up auto bailout bill on Monday

Posted By admin On November 15, 2008 @ 12:47 am In Money Watch | Comments Disabled

MSNBC [1]
Saturday, Nov 15, 2008

The Senate plans to take up a $25 billion bill on Monday to bail out distressed domestic auto companies, but it is unclear if proponents can muster the necessary support.

Majority Leader Harry Reid of Nevada said on Friday he “plans to press forward” with emergency aid to automakers and a plan to extend unemployment insurance even though Republican backing is not assured.

Reid plans to begin debate and hopes the Senate will conduct procedural votes early in the week.

It will be difficult for Democrats to push through an auto bailout in the Senate if minority Republicans object and decide to erect procedural roadblocks.

(ARTICLE CONTINUES BELOW)

Senate to take up auto bailout bill on Monday 131108banner2 [2]

Reid cast the auto issue in a letter to Minority Leader Mitch McConnell of Kentucky as legislation to protect millions of workers “at risk from the possible collapse” of the automakers.

General Motors Corp, Ford Motor Co and Chrysler LLC are furiously lobbying for $25 billion in immediate bailout money to help them survive the industry’s worst financial crisis.

Full article here [1]


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URLs in this post:

[1] MSNBC: http://www.msnbc.msn.com/id/27718233/

[2] Image: http://www.prisonplanet.tv/subscribe_holiday.html

[3] U. S. auto bailout tip of iceberg, analysts warn: http://www.prisonplanet.com/u-s-auto-bailout-tip-of-iceberg-analysts-warn.html

[4] Bipartisan Deal Eases Way For Stimulus Bill in Senate: http://www.prisonplanet.com/bipartisan-deal-eases-way-for-stimulus-bill-in-senate.html

[5] Treasury: U.S. to lose $25 billion on auto bailout: http://www.prisonplanet.com/treasury-u-s-to-lose-25-billion-on-auto-bailout.html

[6] Senate will vote next month on Protect IP copyright bill: http://www.prisonplanet.com/senate-will-vote-next-month-on-protect-ip-copyright-bill.html

[7] Greg Palast: The Romney’s Extorted Millions from Auto Bailout: http://www.prisonplanet.com/greg-palast-the-romneys-extorted-millions-from-auto-bailout.html

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