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Congress Moves To Loan $25 Billion More To US The Auto Industry
House Speaker Nancy Pelosi met with key House Democrats on Monday to consider a variety of ways to aid the struggling U.S. auto industry.
The hourlong meeting focused on whether Congress should move to quickly approve up to $25 billion in 'bridge financing' to aid automakers through a mounting fiscal crisis. The money would be in addition to the $25 billion auto loan program funded by Congress in September to help retool factories to build more efficient vehicles.
Drew Hammill, a spokesman for Pelosi, said 'discussions (are) ongoing,' but declined to elaborate on Monday's meeting.
The hourlong meeting focused on whether Congress should move to quickly approve up to $25 billion in 'bridge financing' to aid automakers through a mounting fiscal crisis. The money would be in addition to the $25 billion auto loan program funded by Congress in September to help retool factories to build more efficient vehicles.
Drew Hammill, a spokesman for Pelosi, said 'discussions (are) ongoing,' but declined to elaborate on Monday's meeting.
