President Obama isn’t wasting any time getting an economic stimulus package in order, and Michigan’s congressional delegation is following suit. Today, the state’s lawmakers sent a letter to the new administration asking for an additional $25 billion in low-interest loans to be added to the administration’s plan in an attempt to provide aid to automakers, part suppliers and unemployed workers in Michigan.
The additional $25 billion would be tacked onto the $25 billion already allocated for automakers and suppliers to revamp facilities and build more fuel-efficient models. The Michigan representatives are also lobbying to retain $1 billion in grants and another $3.3 billion in loans for battery development, and hope that a large share of the federal unemployment aid will make its way to the state which is dealing with a 10.6% unemployment rate as of December.
[Source: Detroit Free Press]