Automaker loans may be in stimulus plans

SOUTHFIELD, Mich. - A request for at least $25 billion in government loans to help General Motors Corp., Ford Motor Co., and their suppliers shift to more fuel-efficient auto models will likely be included in energy and economic stimulus measures this month, House Democratic leaders said yesterday.

Funding for the loans may be included in the 2008 energy bill, in a second economic stimulus package, or in legislation that will temporarily fund the government until the congressional budget work is complete, House Speaker Nancy Pelosi told reporters.

"We may have that in the energy bill, we certainly would have it in the stimulus package, we certainly would hope it will be part of the supplemental at the end of the day," Pelosi said. "It is very, very important," Pelosi said. "It is about jobs, jobs, jobs."

Pelosi and other Democrats in Congress have called for an additional $50 billion in economic stimulus from the government to help overcome the effects of the biggest housing slump since the Great Depression and near-record gasoline prices. House Majority Leader Steny Hoyer said earlier yesterday the auto loans may be included in the stimulus package.

President Bush doesn't support a stimulus plan, saying that a $168 billion stimulus that went into effect earlier this year is helping to improve the economy.

GM, Ford, and Chrysler LLC have made the loans their top lobbying priority as Congress returns this week for a monthlong session before the presidential election. The automakers and their suppliers are trying to get the initial funding appropriated so it's available in January.