Granholm pleased with auto loan progress

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By WSBT 24/7 News

Story Created: Dec 6, 2008 at 1:51 PM EDT

Story Updated: Dec 6, 2008 at 1:51 PM EDT

LANSING, Mich. (AP) — Michigan Gov. Jennifer Granholm says she's pleased with progress in Washington toward a deal to provide loans to prevent Detroit's weakened auto industry from collapsing.

The Democrat said in a statement Saturday that Congress appears to understand that millions of jobs nationwide are at stake. She says this is "an important step toward a stronger, greener auto industry."

The White House said it was in constructive discussions with lawmakers in both parties to dole out the assistance as House and Senate staff aides worked through the weekend drafting legislation.

The legislation would act as a lifeline to General Motors Corp., Ford Motor Co. and Chrysler LLC while meeting demands from many skeptical lawmakers that Congress refrain from writing a blank check.

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