Ford Motor Co. is asking Congress for a $9 billion “stand-by line of credit” to stabilize its business, but says it doesn’t expect to tap it.
Democratic leaders in Congress sidetracked legislation to bail out the auto industry Thursday and demanded the Big Three develop a plan assuring the money would make them economically viable.
With weekly jobless claims benefits at a 16-year high, the White House said Thursday that President George W. Bush would quickly sign legislation pending in Congress to provide further unemployment benefits.
With the economy on the brink and elections looming, Congress approved an unprecedented $700 billion government bailout of the battered financial industry on Friday and sent it to President Bush for his certain signature.
WASHINGTON — In a bold bid to revive President Bush’s multibillion-dollar financial rescue plan, Senate leaders scheduled a vote for Wednesday night on a version of the bill that adds substantial tax cuts meant to appeal to Republicans when it reaches the House.
The mother of Detroit’s mayor narrowly survived a primary election that focused on her scandal-plagued son as much as her own six terms in Congress.
Detroit Mayor Kwame Kilpatrick’s name will not appear on primary ballots Tuesday in Michigan, but voters could decide whether his mother should bear any of the fallout from a scandal that has galvanized city hall.
