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Car-makers to lobby for loans
THE US government is facing calls to loan car-makers up to $50 billion (£28.3bn) to help the industry to modernise and build more fuel-efficient vehicles. Last year Congress approved $25bn in loans as part of its energy bill, but car-makers are now requesting the pool be doubled.
Ford president Mark Fields said the loans would help an industry that was "part of the backbone of the US economy". Heavy lobbying is expected when Congress returns from its summer break this week.
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Saturday 26 May 2012
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