House OKs $14B auto bill — but it's still in peril

[Earth Bound Misfit]

Source: Yahoo!/AP

WASHINGTON – A $14 billion rescue package for the nation's imperiled auto industry sped to approval in the House Wednesday night, but the emergency bailout was still in jeopardy from Republicans who were setting out roadblocks in the Senate.

Democrats and the Bush White House hoped for a Senate vote as early as Thursday and enactment by week's end. They argued that the loans authorized by the measure were needed to stave off disaster for the auto industry — and a crushing further blow to the reeling national economy.

The legislation, approved 237-170 by the House, would provide money within days to cash-starved General Motors Corp. and Chrysler LLC. Ford Motor Co., which has said it has enough to stay afloat, would also be eligible for federal aid.

Republicans were preparing a strong fight against the aid plan in the Senate, not only taking on the Democrats but standing in open revolt against their party's lame-duck president on the measure.

The Republicans want to force the companies into bankruptcy or mandate hefty concessions from autoworkers and creditors as a condition of any federal aid. They also oppose an environmental mandate that House Democrats insisted on including in the measure.



Read more: http://news.yahoo.com/s/ap/20081211/ap_on_bi_ge/congress_autos_379

[natrat]

1. 8 trillion to the banks, 70 billion in bomuses, no oversight,no results

[Jack Bone]

2. here's a link to the roll call..

House roll call on auto rescue bill
Associated Press • December 10, 2008

http://www.freep.com/article/20081210/BUSINESS01/81210116/1014

The 237-170 roll call by which the House approved a $14-billion rescue package for the nation’s auto industry.

A “yes” vote is a vote to pass the bill.

Voting yes were 205 Democrats and 32 Republicans.

Voting no were 20 Democrats and 150 Republicans.

X denotes those not voting.<snip>

[boomerbust]

3. The first piece of legislation

That should be passed on Jan. 21 is The Employee Free Choice Act. Than proceed down to Alabama and organize the foreign company plants for Mr. Shelby.