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Democrats, White House seal auto aid deal
2008-12-10
WASHINGTON - Congressional Democratic leaders and the White House have finalized a deal to spend $15 billion on emergency loans for struggling U.S. automakers, officials said Wednesday. The measure could see a House 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 didn't cut 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. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below. WASHINGTON (AP) -- Officials say that congressional Democrats leaders and the White House have finalized a deal to spend $15 billion on emergency loans for struggling U.S. automakers. The measure could see a House vote Wednesday, and be enacted by week's end.
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