The first draft of the automaker bailout bill is out and late last night, congressional Democrats and the Bush administration were reviewing changes that would put the auto industry’s future under great government scrutiny and may even give Washington a majority stake in GM or Chrysler.
Michigan lawmakers said that while the first draft needs some changes, they were hopeful that a bill could pass Congress within the next few days to eliminate the possible loss of 400,000 jobs in the state and 3.3 million nationwide.
Some things in the first draft may anger Detroit. Bonuses have been...
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