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Aid Packages Passes in Houses, Faces Tougher Senate

Posted: 12/11/2008 - 4:10 PM ET

In an evening vote on Wednesday, December 10, the House of Representatives approved $14 million in emergency loans to prevent the collapse of General Motors and Chrysler, but the fate of the aid package in the Senate is more uncertain.

In a vote of 237 to 170 in favor, the bailout easily passed the House. Prior to the vote, Speaker Nancy Pelosi said, "This legislation is about offering Detroit and America a chance to get back on track. It gets down to a question of tough love."

In a statement reacting to the vote, General Motors said, "We thank the House and its leadership for their bipartisan vote to support America's domestic automakers at this most critical time for the nation's economy.

"The House vote brings us closer to saving jobs and to creating a more competitive U.S. auto industry in order to maintain America's economic vitality.

"We encourage the Senate to act soon so that we can continue at full speed on the restructuring and advanced technologies plans that will form a stronger, more viable GM."

According to Sen. George Voinovich, R.-Ohio, speaking to the press on Wednesday, there are currently insufficient Republican votes in the Senate to pass the measure, which may require further revision for passage, which could be deferred until Saturday or Sunday.

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