US Congress sends White House auto aid proposal

WASHINGTON: Congressional Democrats have sent the White House a draft of a roughly $15 billion auto bailout that's expected to come to a vote this week.

According to a draft obtained by The Associated Press, the measure would rush bridge loans to Detroit's struggling Big Three and put an overseer chosen by President George W. Bush in charge of monitoring an auto industry restructuring.

The overseer could recall the loans as early as February if the carmakers weren't doing enough to reinvent themselves and become viable. And if the Big Three didn't come up with suitable restructuring plans by the end of March, the "car czar" would have to submit his own blueprint to Congress for a government-mandated overhaul.