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KGMB9 Weekend Team
Doomed Auto Bailout Vote Cancelled; What's Next? Print E-mail
Written by the Associated Press   
November 19, 2008 04:21 PM

WASHINGTON (AP) - The Senate's top Democrat has called off a planned vote this week on a $25-billion auto industry bailout.

Senate Majority Leader Harry Reid says he wanted to figure out some way to help Detroit's struggling Big Three but that efforts to do so had stalled.

The White House and congressional Republicans rejected Democrats' plan to dip into the $700-billion Wall Street rescue fund to finance loans to U.S. automakers.

A bipartisan group from auto industry states is working to cut a deal on a scaled-down aid package. Reid says if agreement can be reached, the Senate could still vote on it as part of a measure to extend jobless benefits.



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Last Updated ( November 23, 2008 07:23 PM )
 

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