White House: open to accelerating auto loan funds

WASHINGTON (Reuters) - The White House on Tuesday said it was open to considering any proposals from Congress to accelerate loans to the ailing U.S. auto industry from funds already appropriated.

"We're open to ideas from Congress to accelerate funds they've already appropriated in the auto loan program -- as long as funding will continue to go to viable firms and with strong taxpayer protections," White House spokesman Tony Fratto said.

Congress has approved a $25 billion package of low-interest loans to help automakers meet fuel-efficiency standards.

A spokeswoman for President-elect Barack Obama said he raised the issue of additional help for the auto industry in a meeting with President George W. Bush on Monday.

Fratto would not comment on those talks. "It was a private meeting," he said.

(Reporting by Tabassum Zakaria; Editing by Bill Trott)