Democrats Send Auto Industry Loan Deal to White House
Congressional Democrats have sent to the White House a proposed $15 billion emergency bridge loan for the nation’s Big Three automakers. The Bush administration is studying the plan, according to a Bush spokesperson. And workers say it cannot be approved soon enough.
Workers are demanding that Congress act quickly to save the domestic auto industry, which many call the backbone of our economy. If one of the Big Three were to shut down, the impact would send ripples throughout the economy, says Brian Schneck, president of UAW Local 259 in Hicksville, N.Y., which has 1,700 members and 3,000 retirees.
