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Automaker Bailout Plan
Comments 0 | Recommend 0A bailout loan package for the big three auto companies could be one step closer to reality.
Congress has sent a draft to President Bush Monday night- hoping to bring the plan to a vote this week.
The proposed bailout compromise announced Monday will give the auto industry a minimum of 15-billion dollars- which is less than half of what automakers were requesting.
Lawmakers want the big three to agree to a series of conditions before an agreement is made- including a possible car czar to over-see how the money is spent.
They also want restrictions on executive pay and strict loan payments.
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