Democrats, White House seal auto aid deal

The White House did not go quite so far, saying it has made "very good progress." The measure could see a House of Representatives' vote later Wednesday and be enacted by week's end.

It would create a government "car czar" to dole out the loans, with the power to force the carmakers into bankruptcy if they did not make quick deals with labor unions, creditors and others to restructure their businesses and become viable.

Congressional Republicans, left out of negotiations on the package, are expressing grave reservations and may seek to block it.

Sen. David Vitter, a Republican promised to try to delay a final vote for days.

He said the package has an "ass-backwards" approach to curing what ails the U.S. auto industry.

Nevertheless, Democratic leaders were confident enough that a bill could advance that they set a procedural vote for the House floor later Wednesday. Even still, Sen. Mitch McConnell, the Republican leader, said in late morning that his side had not seen the measure yet and would not agree to votes on the measure Wednesday.

"Republicans will not allow taxpayers to subsidize failure," McConnell said, although he added that the auto situation would be addressed by the end of the week.

The congressional officials disclosed agreement on a bill only on grounds of anonymity because the deal has not been formally announced.

Subscribe to The China Post and save 25%. Click here

SharePrintEmail

Write a Comment

Enter your comments - 3000 characters max

Type in image code

Submit

 Receive China Post promos Respond to this email