Tuesday, December 9, 2008

Bailout Agreement

It seems like the Democrats and Republicans are coming on an agreement about the possible bailout of the Big 3 automakers. Marc Ambinder provides this 13 page word document thats been circulating Capitol Hill detailing the possible terms of agreement.

Big points:
  • There will be a person in the federal government in charge of overseeing the program, he would not be a "czar"
  • Detroit automakers must drop lawsuits against 16 states for enforcement of Greenhouse Gas laws:
    The terms of any financial assistance under this Act shall prohibit the recipient eligible automobile manufacturer from participating in, pursuing, funding, or supporting in any way, lawsuits any legal challenge (existing or contemplated) challenging to State laws concerning greenhouse gas emission standards)
  • Money would come from a 2007 Energy Bill provision that set aside money for green technology initiatives.
For the full scoop either visit Ambinder or check out the document.

No comments: