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Reid Will Put Auto Bailout on Senate Floor Monday
December 02, 2008 6:08 PM
ABC News' Z. Byron Wolf Reports: There are no legislative details and he has not yet read through the Big Three proposals or heard the auto CEOs' collective mea culpa later this week, but Senate Majority Leader Harry Reid said today he will put an auto industry rescue package (details tbd) on the Senate floor next Monday.
This is a more definitive sign that Reid will bring the Senate back in. Last week, that was only a possibility if the American auto company proposals seemed viable.
This type of spending bill would usually originate in the House. But the main bipartisan negotiators are pushing a plan to recondition an already-passed $25 billion package of loans to help Detroit auto companies transition to production of fuel efficient vehicles to instead keep the companies afloat.
And the Senate is where lawmakers who oppose a bailout would have their best chance to defeat it.
Reid said putting a bill on the Senate floor will "protect us" from the legislative calendar in the Senate and added that "we will do everything we can to take care of the auto industry if in fact it is viable, that is, its not just throwing them a rope that doesn't get to shore."
December 2, 2008 | Permalink | Share | User Comments (10)
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HOW BOUT SOMEONE RECALL THAT TIRED OLD LEMON FROM NEVADA? HIS MODEL STINKS WORSE THAN THE CITIZENS(TOURISTS) HE DESPISES!!!
HC AND O'DADDY
Posted by: HILLARY | Dec 2, 2008 6:23:25 PM
WE HAVE JUST RECALLED THE HARRY REID MODEL...HE IS A STINKY LEMON!!!
DETROIT
Posted by: FORD | Dec 2, 2008 6:28:38 PM
I surprised Reid doesn't like BO
Posted by: samhiguchi | Dec 2, 2008 6:34:08 PM
This is really hillarious---- He has not yet seen the BEG3 business plans, but he has already said he will put the resuce package on the floor!!! What a friggin' joke this guy is!
Posted by: roscoe02 | Dec 2, 2008 7:54:48 PM
The reason that the automakers gave for the dire situation is that he recession has caused their sales to fall. How is the bail out going to ward off the recession and who will have the money to buy their gas guzzling cars. The bill should become dead on arrival. Cut the losses and save the money from a bail out
Posted by: gjkotw01 | Dec 2, 2008 7:55:36 PM
It's like--- no matter what they come to us with and propose to us----"I'll put it on the floor"!---- This guy needs to be in an old folks home somewhere and not resposible for spending my money!
Posted by: roscoe02 | Dec 2, 2008 7:57:47 PM
Reid needs to be sent home immediately! These automakers don't stand a snowballs chance in h### of making it in the long run. They have had poor quality and designs for years. I have spent untold THOUSANDS keeping American cars on the road over the years and they have never been worth it. These companies need to reorganize under Chapter 11 NOW!!! STOP THE BAILOUT INSANITY PEOPLE!!
Posted by: grumpyoldmanintown | Dec 2, 2008 8:33:22 PM
BAILOUT- HOW ABOUT HAND OUT. WHAT A JOKE! CUT THE PRICES OF THE INVENTORY 50% AND YOU'LL SELL SOME CLUNKERS NO ONE WANTS.
LET THEM FAIL, OR BETTER YET, KEEP GIVING THE UNIONS WHAT THEY WANT, AND KEEP HANDING OUT 20 MILLION DOLLAR SALARIES, CORPORATE JETS AND HUGE BONUSES, OH AND DON'T PLAN ON BAD TIMES, JUST KEEP SPENDING...CAUSE THE TAXPAYERS AND THEIR CHILDREN WILL PAY FOR YOUR RETIREMENT PACKAGE AND HEALTH CARE COSTS FOR YOU AND YOUR EMPLOYEES FOR THE REST OF OUR LIVES.
REID IS IN THEIR POCKET.
SEND A NOTE TO YOUR REP....HOLD THEM ACCOUNTABLE FOR YOUR CHILDRENS' FUTURE.
Posted by: nobailout | Dec 2, 2008 8:45:42 PM
Typical Democrat, Clueless. He, Pelosi and Franks should be in Jail over the Fannie and Freddie disaster.
NO BAIL OUT, they need to disband the Unions that are sucking them dry.
Posted by: HH | Dec 2, 2008 9:41:37 PM
NO BAILOUT! As long as the union is alive and well in the auto industry they have no hope for survival. Add to that the over inflated management salary package and you will never be able to produce an energy efficient product that the public can afford to purchase. They have to do some MAJOR over hauling before they deserve a dime of help because it will be like CitiBank, they will just keep coming back to the well and eventually fail in the long run. Why put the taxpayers through that burden.
Posted by: Gypsy | Dec 3, 2008 12:29:11 AM
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