WASHINGTON | Senate Democrats are proposing to deny bonuses to U.S. auto executives making more than $250,000 a year in exchange for giving the firms and their suppliers $25 billion in loans from the $700 billion Wall Street bailout.
The companies would first have to give the government a plan for "long-term financial viability," according to a copy of the legislation obtained by The Associated Press.
The loans -- which would start at a 5 percent interest rate -- would come from the second half of the financial industry rescue money.
The measure also would extend jobless aid to unemployed workers whose benefits have run out.
Posted in Local on Tuesday, November 18, 2008 12:00 am Updated: 12:58 am.
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