Dems are postponing crucial vote on auto bailout
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Posted: 3:31 PM Nov 20, 2008
Dems are postponing crucial vote on auto bailout
Washington, D.C.
Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big 3 develop a plan assuring the money would make them economically viable.
Reporter: The Associated Press
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Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big 3 develop a plan assuring the money would make them economically viable.

"Until they show us the plan, we cannot show them the money," Speaker Nancy Pelosi, D-Calif., said at a hastily called news conference in the Capitol.

She and Senate Majority Leader Harry Reid, D-Nev., said Congress would return to work in early December to vote on legislation if the General Motors Corp., Ford Motor Co. and Chrysler LLC produce an acceptable plan.

The decision averted a likely defeat of legislation providing $25 billion loans for the industry. Reid and Pelosi both said there was no plan in circulation that could pass both houses of Congress and win President George W. Bush's approval.
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