Detroit Three Closer To Obtaining $25 Billion
By Michelle Krebs September 25, 2008Detroit automakers moved a step closer to obtaining the $25 billion in loans to re-tool their factories to make more fuel-efficient vehicles.
On Wednesday, the U.S. House passed a bill by a 370-58 vote that included a low-interest federal loans to automakers. Congressional leaders took steps to fast-track the money. The Senate was expected to pass the bill Thursday and President Bush is expected to sign it.
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