Bipartisan group works to revive auto bailout
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WASHINGTON (AP) — Aides to a bipartisan group of auto-state senators, including Ohio Republican George Voinovich, say they have reached a compromise to speed emergency loans to Detroit’s Big Three car makers.
Republicans and Democrats plan to present the proposal at a mid-afternoon news conference Thursday. But it was not immediately clear whether the compromise plan could draw enough support to get through a reluctant Senate.
It temporarily would divert to troubled automakers money from a program that currently finances the development of fuel-efficient vehicles. The aim would be to cover their immediate expenses.
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