Senate GOP Defeats Auto Bailout

Posted: Dec 11, 2008 11:49 PM

The $14 billion "bridge loan" for Detroit automakers failed on a procedural vote 52-35. 60 votes were needed to move the bill to a final vote.

Senators say negotiations "broke down" over the language in the bill leading to its defeat.

Senate Minority Leader Mitch McConnell (R.) said in a statement before the vote was taken, “The sticking point that we are left with is the question of whether the UAW is willing to agree to a parity pay structure with other manufacturers in this country by a date certain."

“It is upon that issue that we’ve reached an impasse for the moment," McConnell said.