Senate backs aid
NZPA-Reutet Washington The Lnited States Senate has passed a SUS36OO million financial-aid plan for the near-bankrupt Chrysler < orporation and set the stage (or a. rushed attempt a. final Congressional approval this week.
After a long day of heated debate the Senate passed by 53 votes to 44 a loan-guar-antee bill very close to the SUS343O million package already approved by the House of Representatives. The next step, expected today. is to iron out the differences in a committee comprising members of both
the Senate and the House, and then rush the compromise back to each chamber for a final vote on today or tomorrow. Chrysler is racing a deadline against bankruptcy, and Congress was to break for a month-long holiday this week-end.
The Senate bill was nearly, thwarted by opponents at several points, including one attempt to add an extra SUSSOO million in short-term loan guarantees. The chamber rejected that measure under opponents’ threats to block passage of the bill indefinitely.
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Press, 21 December 1979, Page 6
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164Senate backs aid Press, 21 December 1979, Page 6
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