WASHINGTON, Dec 12, 2008 (AFP) - The United States mulled urgent new steps to prevent the collapse of its embattled auto sector as the European Union sealed a huge 260 billion dollar package to fight off the global recession.
The White House was considering tapping its 700 billion dollar financial aid package for the struggling car industry.
“Because Congress failed to act, we will stand ready to prevent an imminent failure,” Treasury Department spokeswoman Brooklyn McLaughlin said.
A 14 billion dollar auto rescue deal passed the House of Representatives this week but failed in the Senate amid opposition from Republicans, who demanded that US plants' wages match those at foreign-owned, non-union plants.
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