An energy bill Congress passed last year authorized but did not fund $25 billion in direct loans to help automakers meet the new fuel standards. The financially-strapped companies now want additional funding, but it is not clear how much they hope to obtain. 'The overall price tag to meet the market shift and new fuel economy regulations will certainly be north of $25 billion,' GM spokesman Greg Martin said. 'But we need to get the legislative process moving forward first and fast before we talk about what the precise cost will be.' Automakers have privately said they are seeking $50 billion and that the loans also would be available to their suppliers. U.S. Sen. Debbie Stabenow, D-Lansing, has spoken with fellow senators about seeking $50 billion over three years, but hasn't won their OK, she said Friday. The loan program got a boost Friday when likely Republican presidential nominee John McCain, who had opposed government help for automakers, said he would support low-cost loans, although he did not specify a funding amount. 'Our auto companies are rising to the challenge building the next generation of American cars, but are doing so in times when credit conditions cripple the funding for the facilities and technologies to take the steps to the future,' McCain said, noting that Congress authorized the loan plan last year. 'I believe we should fund it and take action that will assist Detroit and its suppliers in making it through this difficult time of transition.' McCain's Democratic rival, Barack Obama, who last month said he would back the $25 billion program, on Friday said he would support $50 billion. He criticized McCain for changing his position on the same day a new poll showed McCain losing ground with Michigan voters. McCain and Obama are fighting hard to win Michigan -- a key swing state. Congress may balkMichigan lawmakers are pushing to get the loan program before Congress in September and think McCain's support could help get it passed. 'There will definitely be an effort to get the loan guarantees on the floor in one form or another,' Sen. Carl Levin, D-Detroit, said in an interview with The Detroit News. Rep. Mike Rogers, R-Brighton said the loans don't amount to giving automakers a blank check. 'It's in the best interest of country to ensure the automakers have access to capital.' Major hurdles remain, however, with Congress planning a short session next month before adjourning and opposition from legislators who question whether taxpayers should assume the risk of automakers defaulting. The energy bill that included the $25 billion loan program forces automakers to boost the efficiency of their vehicles by 40 percent to a fleet-wide average of 35 miles per gallon by 2020 -- a move that will cost them $47 billion through 2015. The U.S. Treasury likely would issue the loans directly at the lowest current interest rate, but the program could take the form of federally backed loan guarantees, Stabenow said. The price tag -- the predicted cost of a possible default -- is $3.75 billion for $25 billion in loans and $7.5 billion for $50 billion. GM, Ford and Chrysler are looking to Washington because their financial problems have pushed their credit ratings down to junk status, significantly raising borrowing costs. GM and Ford have reported massive losses in the face of what could be the weakest year for auto sales in more than a decade, while also rushing to convert truck plants to build more fuel-efficient models and bring other advanced vehicles to market. GM has reported losses of more than $70 billion since 2005, including $18.8 billion in the first half of this year and is burning through about $1 billion a month in cash. Ford has lost $24 billion since 2006, including $8.7 billion in the second quarter of 2008. Automakers lobbyingAuto officials have been in discussions with the White House to sell the loan plan, and at least one Big Three CEO plans a trip to Washington next month to meet with key legislators. President Bush hasn't taken a position, but in July rejected efforts to bail out automakers, which is how critics characterize the loans. 'I don't think the government ought to be involved with bailing out companies,' he said. 'I think the government ought to create the conditions so that companies can survive.' Other Republicans also oppose the loans, since the government would be on the hook if any of the companies folded. You can reach David Shepardson at (202) 662 - 8735 or [email protected].