A bipartisan group of senators thrashed out a deal to rescue the ailing "Big Three" US automakers on Thursday after a week-long political showdown of the crisis-hit industry, Democratic aides said.
But it was unclear whether the agreement, which was reached between senators from big states with ties from the once-mighty industry would produce a vote on the US Senate floor, or had enough support in the chamber to pass.
Three Democratic aides confirmed the deal on condition of anonymity, but were unable to assess the prospects of the package quickly coming up in the Senate, amid a fierce wrangle over a bailout in Washington.
Details of the deal were also unavailable.
But the two Democratic senators of Michigan, the heart of the US auto industry, Carl Levin and Debbie Stabenow, and Republicans Kit Bond of Missouri and George Voinovich of Ohio, were to hold a news conference later in the day, their offices announced in a joint statement.
The senators will "discuss the details of a bipartisan agreement on a bill to support the auto industry," the statement said.
I hope Sen. Stabenow brings out this chart from a past floor speech. It seems to me that it would apply quite nicely to the auto industry.
Somehow I doubt she will.
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