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UAW urges Senate approval of auto loan program
DETROIT |
DETROIT (Reuters) - The United Auto Workers union urged the U.S. Senate on Thursday to approve bridge loans to support the struggling U.S. auto industry, saying it was clear there was majority support in Congress for the plan.
The House of Representatives approved a proposed $14 billion bailout on Wednesday night, but some Senate Republicans said they are deeply opposed to the plan.
"We can't let a minority in the Senate obstruct an urgent response to an economic crisis which threatens the long-term viability of our U.S. manufacturing base -- not when millions of jobs are at risk in all 50 states," UAW President Ron Gettelfinger said in a statement.
Chrysler LLC and General Motors Corp have said they must have emergency loans to continue operating into early next year.
Ford Motor Co has sought a line of credit that it could tap if the industry downturn becomes worse than expected or if its rivals fail.
(Reporting by David Bailey; editing by Jeffrey Benkoe)
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