$15B auto deal faces new snags

Bucyrus Telegraph Forum

WASHINGTON (AP) — Weary Democratic congressional leaders pushed to clear the final obstacles to a $15 billion bailout of U.S. automakers Tuesday night, but the rescue plan faced new snags as Republicans raised deep concerns.

Top Democrats said they were still hopeful of a deal by the end of the night — with a vote to follow by the end of the week — although significant sticking points remained. Still unresolved were the precise requirements to be placed on carmakers by a new “car czar” who would be named by President George W. Bush and could ultimately force the carmakers to reinvent themselves.

Robert Lutz, GM’s vice president for global product development, said he thinks it’s as important to restart the economy as it is to give the industry a federal financial rescue.

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$15B auto deal faces new snags »