The government overseer who would be in charge of emergency aid for the Detroit 3 should have the power to force an automaker into bankruptcy if the company fails to restructure for long-term viability, the White House said today.
White House Press Secretary Dana Perino outlined Bush administration criteria in negotiating emergency-aid legislation with Democratic leaders of Congress. At a briefing, she called a deal "very likely" sometime today, even though the White House hasn't received draft legislative language from Congress.
The White House called on congressional Democrats to work in a bipartisan way to get an aid bill enacted this week.
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