Automakers to Get $17.4 Billion in Loans

Getty

The president announces the White House’s plan for the struggling industry in a statement from the Roosevelt Room Friday.

The auto firms must use these funds to become financially viable by the end of March, or lose the taxpayer money.

“Allowing the auto companies to collapse is not a responsible course of action.” Says bankruptcy was unlikely to work at this time. Read full statement here.

Related Topics: News

Post a Comment

You must be logged in to post a comment.

  • Tweets

    View More Tweets From @TIME

Follow

Get every new post delivered to your Inbox.

Join 246 other followers