Progress made in bailout plan for Big 3 automakers - WKOW 27: Madison, WI Breaking News, Weather and Sports

Progress made in bailout plan for Big 3 automakers


WASHINGTON (AP) -- A White House spokeswoman says it is "very likely" that the Bush administration could reach a deal with Congress on Monday to get emergency aid to failing U.S. automakers.

  But she expressed concern that the White House has not seen a specific proposal from Democrats.

  Referring to Democratic leaders on Capitol Hill, White House press secretary Dana Perino said Monday: "If they want to work with us, we'll meet them halfway."

  An emerging bailout plan would draw emergency aid from an existing loan program meant to help the automakers build fuel-efficient vehicles.

  The size of the package hasn't been finalized, but it is expected to be about $15 billion.

  Perino said that if lawmakers want to hold a vote by Tuesday, they need to provide legislative language to the White House.

  She said the White House was looking for a better bipartisan effort "so we can get this done."

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