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Plan would offer Detroit automakers credit help
A proposal to offer up to $20 billion in U.S. loan guarantees to automakers to develop alternative fuels, hybrids and other energy saving technologies is expected to be introduced in Congress next week.

The plan by Rep. Mike Rogers, a Michigan Republican, is specifically aimed at struggling Big Three domestic vehicle manufacturers - General Motors Corp., Ford Motor Co. and DaimlerChrysler's U.S. unit, Chrysler Group.
It is the first large-scale government proposal designed to help Detroit's auto sector since its financial troubles became more acute this year.

.....

Under a loan guarantee, the government backs the majority of financing from banks and other private sector lenders. A similar program bailed out Chrysler in 1980.

http://news.yahoo.com/s/nm/20060920/pl_nm/autos_congress_dc_1
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