White House, Dems Agree on $15B Auto Deal

Democrats reached a tentative deal with the White House on a $15 billion rescue plan for GM and Chrysler, but unsatisfied Republicans threatened to block the deal, the Detroit Free Press reports. The measure could be presented to the House tomorrow morning and passed in the afternoon. But the Senate's a different story, and Harry Reid said key Republicans may filibuster if they don't wring more concessions from the automakers and the UAW.

“We will need the personal involvement of President Bush and President-elect Obama to reach our goal of securing bridge loans to ensure America’s auto industry is not only viable but vibrant in the years ahead,” said Michigan Sen. Carl Levin said. The measure includes language to recall the loans and force the automakers into bankruptcy if they don't make sufficient progress, the Free Press notes. The $15 billion would go to GM and Chrysler; Ford has said it doesn't need immediate relief.