Automakers Leave Capitol Hill Empty-Handed
November 20th, 2008Automakers leave Capitol Hill empty-handed. GM, Ford, Chrysler leave Congress empty-handed on Tuesday after they told lawmakers that their situation was dire and the needed help. After hearing from the automakers, who asked for $25 billion in aid, the lawmakers deadlocked on a plan to bail out the big three automakers, leaving General Motors Corp. facing the prospect it could run out of cash before a new Congress can come to the rescue next year. Democratic congressional leaders disagreed with Republicans and President Bush over how to provide $25 billion in aid to GM, Ford Motor Co. and Chrysler LLC. But they’re running out time to find a solution, since only two days remain in a lame-duck session for lawmakers to decide upon a compromise.
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