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Auto industry fears parallel bailout fallout and job losses
A foray into a Wall Street rescue could trigger up to three million lost jobs across automakers and suppliers while costing over 150 billion in tax revenue to governments over three years. Some lawmakers oppose federal aid, urging bankruptcy restructuring instead to restore competitiveness and curb ongoing government spending.
MENTIONED IN THIS ARTICLE
Sen
Jeff Sessions
Alabama
Sessions
Treasury
Wall Street
U.S
David Cole
Center For Automotive Research
Detroit
Cole
United Auto Workers