The U.S. Senate has reached a deal on a compromise bailout plan for the Big Three automakers. However, it is still unclear whether this will pass both Houses.
ABC News reports:
An auto industry source said the deal would use money from the $25 billion Congress made available to the automakers in October for fuel efficient vehicle programs. Speaker Nancy Pelosi has adamantly opposed using this money for anything but its intended purpose. To attempt to please Pelosi, under this deal, the Congress would come back in January and replenish the fund for fuel efficient vehicles.”