Bail 'em out or let 'em sink?NEW YORK (CNNMoney.com) -- The White House and leading congressional Democrats have reached an agreement on legislation to provide a stopgap bailout to U.S. automakers, according to officials from the administration and Congress.
The next steps were not clear early Wednesday afternoon. A House vote could take place later Wednesday. But strong Republican opposition in the Senate made prospects there less certain.
The bill could provide the $14 billion that General Motors (GM, Fortune 500) and Chrysler LLC need to avoid filing for bankruptcy, allowing them to continue operations through the end of March.