Feingold, Kohl to go along with auto industry bailout
Wisconsin's two U.S. senators say they can go along with a bailout of the auto industry but only with strings that hold the automakers accountable.
Democrat U.S. Sen. Russ Feingold says the proposed $25 billion should come directly from the $700 billion already allocated for the Wall Street bailout.
That would be on top of the $25 billion in loans Congress approved in September to help the car companies build more fuel-efficient vehicles.
U.S. Herb Kohl agrees with Feingold that a bailout must have protections for taxpayers and there should be an expectation of big changes that revive the auto industry.
Wednesday, leaders of Detroit's automakers told senators that time is running out.
Cash-strapped General Motors said it would delay reimbursing its dealers for rebates and it could run out of cash by the end of the year without Washington's help.
Senate Democrats rejected calls by Republicans and the White House to simply let the automakers tap into the $25 billion Congress approved in September.
A Senate vote could come as early as Thursday.