Bush Administration Working on a New Plan

By: Associated Press
By: Associated Press

WASHINGTON -- The Bush administration is working with U.S. automakers on ways to re-tool a proposed rescue plan.

Officials are keeping details about negotiations to themselves. They say no final decisions have been made on how much help would be offered, or in what form.

A White House spokesman only says that the focus is on a policy that's in "the best interests of the taxpayer and our economy."

Congress failed to pass a bailout earlier this week. But Sen. Carl Levin, a Michigan Democrat, says the idea of emergency loans to automakers "is still very much alive."

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