As Detroit waits anxiously for the Obama administration to decide whether to grant more TARP funding to the ailing automakers, the White House today announced $5 billion in federal help for a related sector: the auto-parts suppliers who are struggling right alongside the Big Three. From The More…
Might have seen this one coming.
When the Bush administration agreed in December to tap Wall Street bailout funds to help Chrysler and General Motors avoid bankruptcy, the two auto giants said that $17.4 billion would see them through March — $13.4 billion for G.M. and $4 billion for More…
Another good point made by TWI’s Daphne Eviatar and Josh Marshall, who sums it up well. From TPM:
Senate Republicans are following this course for three key reasons — first is payback against a major industrial union; second is payback against states like Michigan
The House last night easily passed a compromise automaker bailout negotiated for days between congressional Democrats and the White House. The Democrats — who had already given in to White House demands that the $14 billion bailout cash be pulled from a previously approved $25 billion fund for More…
Saying the Democrats’ Detroit bailout plan “guarantees failure at taxpayer expense,” House Republicans on Wednesday introduced an alternative blueprint asking union workers to take a pay cut and give up benefits.
The current powers that be — both in Washington and Detroit — can’t be trusted to fix a More…
As Congress and the White House wrangle over the conditions of a possible Detroit bailout, many Democrats want the conditional guarantee that, in return for the cash, the Big Three will drop lawsuits against California and more than a dozen other states that want to tighten tailpipe emission More…
As Congress and the White House negotiate the conditions of $15 billion in short-term financing for the automakers, a growing chorus of lawmakers, economists and consumer advocates is calling for specific fuel-efficiency benchmarks to be written into the legislation.
Rep. Edward Markey (D-Mass.), chairman of the House Select Committee on More…
Taxpayers for Common Sense, a policy watchdog group, has gotten its hands on an early draft of the Democrats’ plans to bailout Detroit’s automakers, and they’ve shared it with the world. From their summary of the proposal:
Sen. Bill Nelson (D-Fla.) offers a new angle today on the Detroit bailout, saying that he’ll support the plan only if the automakers stop trying to kill states’ efforts to tighten emission standards.
California has famously applied for an Environmental Protection Agency waiver forcing emission reductions of 30 percent by More…
Detroit’s automakers are submitting proposals to Congress today detailing how they would spend the billions in emergency funding they’ve requested. (Look for a piece from us shortly on what they intend to sacrifice for that cash).
Meanwhile, Spencer sends over a wonderfully accurate account from John Cole that pretty More…
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