Central and Eastern Kentucky
(2008-09-07)
WASHINGTON, D.C.
(Associated Press) -
Auto industry allies hope to secure up to 50 billion dollars in federal t loans this month to modernize plants and help struggling car makers build more fuel-efficient vehicles.
Congress returns this coming week from its summer break, and the auto industry plans an aggressive lobbying campaign for the low-interest loans.
The situation is growing dire after months of tumbling sales, high gasoline prices and consumers' abandoning profitable trucks and sport utility vehicles.
Lawmakers authorized 25 billion dollars in loans in last year's energy bill, and automakers now want lawmakers to expand the pool of money available to 50 billion dollars over three years.
© Copyright 2012, Associated Press
