Amid mounting hurdles and facing time crunch, Congress focuses on $25B, one-year program.
David Shepardson / Detroit News Washington Bureau
WASHINGTON -- Lawmakers worked Tuesday to hammer out the details of a $25 billion, one-year government loan package to help Detroit's Big Three automakers, but still face significant hurdles to winning passage before Congress adjourns in three weeks.
Auto officials and Michigan legislators decided late Tuesday to drop efforts to seek $50 billion in low-cost direct loans over three years, saying they were more confident of winning passage as a result.
After two days of meetings and conference calls, leading Democrats and Republicans expressed optimism that the loan program will be included in a bill to continue funding the government into next year.
http://www.detnews.com/apps/pbcs.dll/article?AID=/20080910/AUTO01/809100384/1148
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