House Speaker backs auto industry aid

Other News Materials 12 November 2008 01:11 (UTC +04:00)

House Speaker Nancy Pelosi said on Tuesday federal aid for the failing domestic automobile industry was urgent and that she was confident Congress could act on emergency legislation next week, Reuters reported.

In a statement, Pelosi said she has asked House Financial Services Committee Chairman Barney Frank to work with House of Representatives and Senate leaders and the White House to craft legislation.

She did not say how much federal aid should be provided.

"I am confident Congress can consider emergency assistance legislation next week during a lame-duck session, and I hope the Bush administration would support it," Pelosi said.