>Obama Needs Congressional Approval to Guarantee Auto Warranties, Says Democrat Budget Chair
Wednesday, April 01, 2009
By Fred Lucas, Staff Writer
Rep. John Spratt (D.-S.C.)
Capitol Hill (CNSNews.com) – Members of Congress from both parties, including the chairman of the House Budget Committee, told CNSNews.com on Wednesday that President Obama’s plan to guarantee the warranties on all General Motors and Chrysler automobiles while the companies undergo government-supervised restructuring—a program that could cost taxpayers $10 billion per year—needs legislative authorization. Read the story.