[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2008/images/12/08/t1home.rally.gi.jpg caption="Autoworkers rally Monday for a bailout. "]Maureen Miller
Should the U.S. government help out America's automakers?
The White House is looking over a congressional proposal to give $15 billion dollars in federal loans as soon as next week to General Motors, Ford and Chrysler.
That's less than the $34 billion requested by the industry last week.
You may be asking: Where would the money come from? The answer: Out of funds designated by the Energy Independence and Security Act to help the auto industry produce the next generation of fuel efficient vehicles.
Whew! That's a mouth full, isn't?
House Speaker Nancy Pelosi admits it's a rough move.
"This is a bad choice," she said on Capitol Hill today. "This money is meant to be used for innovation ... but it is our hope that there will be a viable automotive industry with transparency and accountability to the taxpayer," Pelosi added.
There is some accountability in the proposal. The plan calls for the President to appoint a so-called "Car Czar" by January 1st, who would set up guidelines for the big three automakers to reorganize. Within 45 days, if the "Czar" doesn't see progress, he could recall the government loans
Should there be tougher rules for Detroit's big three automakers?
We'd love to hear your thoughts on the proposal.
We'll have this breaking story and tonight's other headlines staring at 10pm ET on AC360°.
Hope you can join us.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
Questions or comments? Send an email
Want to know more? Go behind the scenes with