The Coming Auto Bailout, Round Two

Amanda Carpenter
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Posted: Nov 06, 2008 10:52 AM
House Speaker Nancy Pelosi is scheduled to meet with bigwigs from the Big Three automakers in Detroit today to discuss a forthcoming $50 billion loan program to help their struggling industry.

This would likely be included in the second economic stimulus package Pelosi has been calling for and has signaled she would like to call Congress back to pass in a lame duck session.

Automakers already got a huge boost from Congress earlier this year in the form of $25 billion worth of credits to help them "retool" their cars to become more energy efficient.