Michigan asks Obama to add $25 billion for auto industry to stimulus plan
Barack Obama’s stimulus package is on track and Michigan’s congressional delegation has asked the new President to add $25 billion in low-interest loans for automakers and parts suppliers.
In a letter to Obama, lawmakers also lobbied to keep $1 billion in grants and $3.3 billion in loans for battery development for electric and hybrid vehicles. The $25 billion will come on top of the $25 billion already set aside for automakers and parts suppliers to build more fuel-efficient vehicles.
The House is expected to take up the $850 billion bill on Wednesday with a chance of passing the bill through Congress on Feb. 16.
Source: Detroit News
