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The New York Times quoted Reid as saying he expected House and Senate "votes next week on a responsible plan to help the millions of Americans who rely on a healthy auto industry for their livelihoods."

Under the agreement, Pelosi said she would demand "a guarantee that those funds would be replenished in a matter of weeks" and that automakers would not delay work on improved fuel economy.

Ford Motor Co. CEO Alan Mulally said his company doesn't immediately need loans but is supporting GM and Chrysler to prevent a failure and the consequential collapse of the domestic parts supply base. Ford says it may need $9 billion if one of its rivals doesn't survive.

Committee Chairman Barney Frank, D Mass., said he was "more optimistic than before" that GM and Chrysler would get enough federal loans to live until next year when the Congress and the Obama administration can take up a more complete rescue measure.

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Omega Speedmaster Professional Caliber 321

The loans would allow the Detroit 3 to maintain operations until President elect Barack Obama takes office Jan.

That package could be completed with stringent government oversight, milestones and possibly equity rewards for the risk of lending the money, Frank said.

and whether it will succeed."

Responding to lawmaker questions, Chrysler's Nardelli said a $4 billion interim package would suffice for his company. Wagoner said GM needs about $4 billion by January and up to $10 billion through March.

Friday night that it is "encouraged" by the promise of congressional votes next next week.

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That funding was part of a $34 billion request for loans and credit lines.

Omega Speedmaster Professional Caliber 321

Omega Speedmaster Professional Caliber 321

Pelosi said that "Congress will insist that any legislation include rigorous and ongoing oversight to guarantee that taxpayers are protected."

Congress is scheduled to vote on bailout legislation next week.

Omega Speedmaster Professional Caliber 321

Pelosi suggested she was willing to fund the emergency loans out of a $25 billion package already approved to help automakers retool for fuel efficient vehicles. Pelosi and Senate Majority Leader Harry Reid, D Nev., had previously opposed that approach, which is favored by the Bush administration.

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As recently as Thursday, Pelosi and Reid had insisted that the Bush administration make the emergency loans to Omega Seamaster Women's Automatic

But Reid added: "We will need support and cooperation from Republicans to determine what that vote happens Omega Blue Strap Watch

The accord is designed to provide short term loans to General Motors, Ford Motor Co. and Chrysler LLC to prevent an industry collapse and allow Omega Speedmaster Professional Caliber 321 a comprehensive restructuring of the companies early next year, House Speaker Nancy Pelosi, D Calif., said in a statement.

the Detroit 3 out of a $700 billion rescue fund for financial institutions.

Ford said in a statement Omega Speedmaster Professional Nato

´╗┐Congress nears accord on Detroit 3 bailout

Omega Speedmaster Professional Caliber 321

Omega Speedmaster Professional Caliber 321

The Detroit 3 CEOs and UAW President Ron Gettelfinger testified to Congress for a second consecutive day Friday.

Consensus built for an interim rescue package after more than five hours of testimony today before the House Financial Services Committee.

Democratic leaders also have reached agreement with the White House on the plan, a senior congressional aide told Reuters. The package totals between $15 billion and $17 billion, the aide said, speaking on condition of anonymity.

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Omega Speedmaster Professional Caliber 321

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