Detroit to get $15 billion to tide them over until Obama takes office
The hope had been to use money from the $700 billion financial bailout fund, but Treasury secretary Henry Paulson and the White House were having none of that. However, come January 20 they will no longer have control of those funds, and the Congressional Democratic leadership is hoping that the Obama administration will see things a little differently and agree to use some of that money help the auto industry. In the meantime, as long as a suitable number of votes can be mustered early next week, work on the Volt, and EVs from Ford and Chrysler can continue for a little while longer.
[Source: Reuters, Photo by Brendan Hoffman/Getty]
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