International

Lawmakers, White House agree on auto aid plan

WASHINGTON, Dec 6 (Reuters) Congressional Democrats and the White House have reached agreement on emergency aid for U.S. automakers of between $15 billion and $17 billion, two senior congressional aides said on Friday.

The outline of the package was reached after auto executives pleaded with lawmakers for help and U.S. data showed employers axed more than 533,000 jobs in November, the highest monthly job loss in 34 years. “Congressional Democrats and the White House have reached an agreement,” a senior congressional aide said.

Another source said negotiators had “agreed in principle to moving ahead but details have to be worked out.” More talks were expected on Saturday with Congressional votes on a bill next week.

The temporary funding amount is far less than the $34 billion in loans requested this week by General Motors, Ford Motor, and Chrysler, but it would keep them going into next year.

Daniel Weiss, a senior fellow with the Center for American Progress, said he expected Democratic lawmakers to seek more money for automakers after a new Congress meets and Barack Obama is sworn in as president on Jan. 20.

 
Top to the page  |  E-mail  |  views[1]
 
Other International Articles
India’s waning power in B’desh
"India's 9/11": Perils in parallels
India police arrest two in Bombay attacks probe
Death toll in Peshawar bomb blast rises to 27: Police
Lawmakers, White House agree on auto aid plan
Thai opposition says wins over some ruling parties
Girl, 8, among 17 dead in Manila shoot-out: Police
33-year jail term for superstar Simpson
Caroline Kennedy eyes Clinton Senate seat?
Mumbai terror attack: A temporary jolt in Indo-Pak peace process
Military-political conundrum and the terror next door

 

 
Reproduction of articles permitted when used without any alterations to contents and a link to the source page.
© Copyright 2008 | Wijeya Newspapers Ltd.Colombo. Sri Lanka. All Rights Reserved.| Site best viewed in IE ver 6.0 @ 1024 x 768 resolution