White House To Offer Financial Support To Auto Industry?

Posted on 14. Dec, 2008 by Ryan in 2000-2009

Photo Credit: Arild

In a strange twist according to the New York Times, the White House is ready to offer the Auto Industry financial support through treasury TANF funds, after the majority controlled Senate failed to pass legislation for the $14 billion for the big 2.5.

I find this ironic, given that the White House had previously denied any request from the auto industry and would rather let them die, so why the change of heart?

Here is a quote from a Treasury spokesperson that is close with the White House on this matter:

“Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” said Brookly McLaughlin, a Treasury spokeswoman.

Tags: Brookly McLaughlin, Congress, Senate, the New York Times, Treasury spokesperson, Treasury spokeswoman, USD, White House