U.S. Sens. Russ Feingold and Herb Kohl, D-Wis., both showed support Tuesday of allocating some of the $700 billion for bailing out financial institutions to the auto industry.
Chief Executives of General Motors, Chrysler and Ford Motor Company asked Congress to bail out their failing companies with a $25 billion in federal aid.
Automakers are unlikely to persuade Congress to grant them this aide, but Feingold and Kohl said they are in favor of their plan.
With millions of jobs at stake, Congress should carve out some of the Wall Street bailout funds to help U.S. automakers,"" Feingold said.
Feingold and Kohl both said the rescue package should come with a requirement for the auto industry to reform and create more fuel-efficient cars.
""[It] must come with accountability and the expectations these companies will undergo big changes that lead to their renewal and revival,"" Kohl said in a statement.
