Economy | The House of Representatives voted Wednesday to pass a $14 billion loan for the survival of the three Detroit automakers
by Emily Belz
Posted 12/10/08, 12:00 am
WASHINGTON - Though the automakers' bailout appears to face insurmountable challenges in the Senate, the House of Representatives passed legislation in a 237-170 vote Wednesday night to provide the U.S. industry with $14 billion in loans, with the contingency that President Bush would appoint a "car czar" to oversee restructuring in the three companies-Ford, General Motors, and Chrysler.
The Senate plans to vote on the legislation later in the week.