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Congressional Republicans Resist Auto Bailout

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An article in the Washington Post describes Republican opposition to the bailout in the House and Senate, even after Democrats reached an agreement with the White House. House Republicans are pushing their own legislation: an act which would require the industry to negotiate with its creditors towards profitability or declare bankruptcy. During floor discussions, Republicans argued against a $14 billion dollar bailout proposal. Meanwhile, Republican Senators have suggested that they cannot support the current bailout without seeing major changes in the legislation.

 

Posted on  Wednesday, December 10, 2008By m.erickson
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Source: http://www.washingtonpost.com/wp-dyn/content/article/2008/12/10/AR2008121001679.html?hpid=topnews
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