Detroit Automakers Seek Additional Govt Support

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Hold on to your wal­let. Last Decem­ber Con­gress man­dat­ed high­er CAFE stan­dards, 35 mpg by 2020. Detroit automak­ers, already under assault from import com­peti­tors and slow­er eco­nom­ic growth, cried foul. They claimed bil­lions of dol­lars would be need­ed to retool their plants to meet the stan­dard. Con­gress pro­vid­ed $25 bil­lion in low cost loans to help the automak­ers. Now with the pres­i­den­tial elec­tion loom­ing and Ohio and Michi­gan must-win states, automak­ers are seek­ing an addi­tion­al $25 bil­lion.





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