Auto bailout talks continue, vote expected this week

Negotiations on a bailout for the auto industry will continue even as Democrats sent a draft of a loan deal to the White House Monday. It?s a move many Long Islanders say may be painful, but necessary.

News 12 Staff

Dec 9, 2008, 2:12 AM

Updated 5,707 days ago

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Negotiations on a bailout for the auto industry will continue even as Democrats sent a draft of a loan deal to the White House Monday. It?s a move many Long Islanders say may be painful, but necessary.
The White House says it is cool to Congress? plan to lend GM, Chrysler and Ford roughly $15 billion to help them restructure and build fuel-efficient cars. A White House-appointed ?car czar? would be tapped to oversee the transformation of the auto industry.
Employees of Bright Bay Lincoln-Mercury and GMC in Bay Shore say the proposed bridge loan would certainly help them out. ?It?s going to be a positive thing, going to give them some time until things turn around and sales come back,? sales manager Alex Gomez says.
Sen. Hillary Clinton (D-N.Y.) and Long Island representatives Peter King (R-Seaford), Gary Ackerman (D-Manhasset) and Carolyn McCarthy (D-Mineola) say they would vote yes on a bailout with conditions. Congressmen Steve Israel (D-Huntington) and Tim Bishop (D-Southampton) are undecided. Sen. Chuck Schumer (D-N.Y.) was unavailable for comment.
"You have to hold your nose and you have to do it,? Fred Mancini, of North Bellmore, says. ?A lot of blue collar workers would be out of work if they didn't do it really.?
House Speaker Nancy Pelosi says lawmakers hope to bring the measure for a vote this week.
Click to see which businesses are benefiting from the struggling auto industry
AP wire reports contributed to this article.


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