Congress asked Big Three automaker executives from General Motors, Ford and Chrysler to provide a "path of visibility" before it can approve the $25 billion emergency federal loan, according to Reuters.
Automakers will have until Dec. 2 to provide a detailed survival plan before Congress will return to the discussion, House Speaker Nancy Pelosi, D-Calif., told Reuters.
If approved, the proposal would tap into the $25 billion approved for restructuring the industry to create more fuel-efficient cars, National Public Radio reported Friday.
"Unfortunately, the sad reality is that no one has come up with a plan that can pass the House and the Senate and get signed by President Bush," Senate Majority Leader Harry Reid, D-Nev., told NPR.
-M.M.
