Senate leader Reid to offer auto bill Monday

Tue Dec 2, 2008 6:52pm EST
 
[-] Text [+]

WASHINGTON (Reuters) - Senate Majority Leader Harry Reid said on Tuesday he plans to offer some sort of legislation for ailing U.S. automakers on Monday.

"We're looking to make sure we do everything we can to take care of auto industry, if in fact it's viable," Reid told reporters at an energy event sponsored by Third Way.

Ford Motor Co (F.N), General Motors Corp (GM.N) and Chrysler LLC CBS.UL began submitting plans to Congress on Tuesday showing how they aim to remain afloat and why they are worthy of federal aid.

Reid said he told Senate Banking Committee Chairman Chris Dodd that he was depending on him to look over these proposals and then determine what legislation, if anything, should be introduced.

The 2.5 million workers and manufacturers impacted by the auto industry deserve a vote on auto legislation, Reid, a Nevada Democrat, said.

Separately, the Democratic leader also said he was hopeful Congress would include funding of efficient transmission of green energy sources and substantial investment in alternative energy in any economic stimulus package.

Reid said he has not seen the package being developed by U.S. President-Elect Barack Obama to address the financial crisis, but he expects it to cost more than $400 billion.

Depending on the composition of the bill, Reid said it may be appropriate to devote $100 billion of the package to creating green energy jobs.

(Reporting by Ayesha Rascoe; Editing by Christian Wiessner and Cynthia Osterman)

 
Photo

More News

Obama to make case for big healthcare changes
Wednesday, 9 Sep 2009 03:01am EDT 
Obama wants credit card changes: Frank
Tuesday, 28 Apr 2009 03:00pm EDT 
Automakers desperate bailout plea gaining support
Tuesday, 2 Dec 2008 10:12pm EST 

Featured Broker sponsored link