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December 10, 2008

White House, Dems Agree on Auto Bailout
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On Capitol Hill, the White House and congressional Democrats say they’ve
reached an “agreement in concept” on a bailout for the auto industry.
The plan would authorize $15 billion in emergency loans to car companies
as early as next week. In return, the companies would face a spring
deadline to cut costs, restructure debt and renegotiate workers’
benefits. President Bush would also appoint a so-called “car czar” to
oversee the process. A House vote is expected later today.



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