After days of deadlock, congressional Democrats are ready to offer what The Wall Street Journal calls a “down payment” to the Big 3 automakers. The size of the bailout will be about $15 billion, and come from funds originally intended to improve the fuel-efficiency of American cars. This had been the source of controversy on the Hill, as Speaker Nancy Pelosi had resisted tapping those funds. But The Journal says that Friday’s grim jobs report helped convince her otherwise. Pelosi and Sen. Harry Reid said they want a bill rushed through both houses next week. A congressional aide tells CNN, "They need to get Republicans on board and send an important signal for House members to vote for this.”
Read it at The Wall Street Journal
