Auto Bailout Still Alive - NBC Right Now/KNDO/KNDU Tri-Cities, Yakima, WA |

Auto Bailout Still Alive

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YAKIMA--Automakers weren't bailed out by the Senate, but it appears the White House may step up.  We talked with some local car dealers and politicians today to see how are they taking the news.

The $14 billion auto bailout bill was defeated 52 - 35 in the Senate Thursday night.  On Friday, the Bush administration said taxpayer dollars may go towards helping the GM, Ford, and Chrysler.

Mike Olson of Mike Olson Dodge was disappointed, he told KNDO via phone that Chrysler wants a bridge loan that they'll repay, not a bailout.

A local Republican said he is surprised President Bush has changed what had been a firm stance against this bailout.

"I really thought he would go with the Senate's [decision]," Max Golladay, Chairman of the Yakima County Republican Party, said.  "We need more of a Chapter 11 type action.  Let the car companies reorganize and fix their problems."

The money from this would be taken from the $700 billion bailout congress approved in October.

The White House's plan isn't certain yet.  They might loan the Big Three a small amount to last until Barack Obama takes office next month.