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House May Vote on Auto Bailout Today, Senate Vote May Be Blocked

The U.S. House of Representatives may vote by the end of the day on a proposed package of emergency loans and stringent reorganization requirements for General Motors (GM) and Chrysler, but the Senate may not have the votes to pass the measure. The Associated Press (AP) reports that the White House and majority Democrats in the House have reached an agreement on a deal to keep GM and Chrysler running for approximately 90 days, with the appointment of a "car czar" who will oversee required reorganization plans for the two automakers and demand repayment of the loans if the plans are not followed. Congressional Republicans, who were left out of the negotiations on the deal, are expressing reservations about its viability. According to the AP, Senator Mitch McConnell (R-Ky.), the Senate Republican leader, had not seen the deal as of this morning and would not agree to a vote today or guarantee passage. "Republicans will not allow taxpayers to subsidize failure," says McConnell, quoted in the AP report. Senator David Vitter (R-La.) promises to filibuster the measure, which could delay a final vote for several days.

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