Sen. Carl Levin said today he may seek an additional $25 billion in loans for the auto industry before the end of the year, citing deteriorating economic conditions for Detroit's car makers.
Levin, D-Detroit, said doubling the loan program to $50 billion would help automakers during a difficult period for the industry. Congress approved a $25 billion loan program last month, but credit markets have tightened since then and the companies have reported dismal sales figures.
"I think we ought to make sure that we take every step we can to assist the industry through this rough patch," Levin said in an interview with The Associated Press.
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