WASHINGTON (AP) -- The chief executives of GM, Ford and Chrysler go before the Senate Banking Committee Tuesday -- ahead of this week's vote on a Democratic plan to provide their companies $25 billion in loans.
With the economy in dire straits, they say the money is a desperately needed lifeline. Democrats say the American auto industry can't be allowed to implode. But many Republicans warn the industry first must change the way it does business.
It currently appears unlikely the aid package will win Senate approval.
A key Democrat -- Congressman Barney Frank -- says a House auto industry bailout would require that U.S. automakers immediately repay the $25 billion in government loans next year if they can't show they're financially viable.
(Copyright ©2008 by The Associated Press. All Rights Reserved.)
