WASHINGTON Democrats in Congress are proposing $25 Billion Dollars to bailout the auto industry. This money would come out of the $700 Billion Wall Street Bailout,according to Rep. Barney Frank - D,who is going to write up the bailout. President Bush is on the Democrats' side for now saying it would help the struggling auto industry. Minority Leader Sen.Mitch McConnell (R-KY) says that Congress should speed up the release of the $700 Billion Bailout. Auto executives, labor leaders and other industry proponents are mounting an intense lobbying effort for a bailout, painting a grim scenario for the economy if even one of the Big Three companies were to go under. They want an immediate $25 billion loan to keep the companies operating and a separate $25 billion to help cover future healthcare obligations for retirees and their current employees.
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