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Obama Wants to Appoint Auto Czar, Seeks Billions in Detroit Aid
President-elect Barack Obama is asking a Congressional lame-duck session to approve $25 billion to $50 billion in rescue aid for Detroit’s crumbling auto industry.
He also wants to appoint a czar or board to oversee the auto industry’s rescue and reconstruction, Bloomberg reported.
Both are steep requests that would require nationwide support – from Michigan state officials all the way up to President George W. Bush. Without 60 seats in the Senate, Democrats would need a few Republicans to cross the party aisle on the vote, should Congress draft and approve legislation by the end of next week’s session.
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14Nov2008 | Money Morning | Comments Off | Continued
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