US Congress to consider auto loans in spending bill

Newswire

By John Crawley WASHINGTON, Sept 22 (Reuters) - A proposal to fund $25 billion in low interest loans to the auto industry was included on Monday in draft legislation that could be considered by the U.S. Congress later this week. The must-pass spending measure would set aside $7.5 billion in taxpayer funds to cover default risk and issue the government-backed credit. President George W. Bush is expected to sign the spending bill that would keep the government funded. The loan program ...

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