December 8, 2008

This Week on Capitol Hill

Car Talks: Congress drops in to DC this week to consider a short-term bailout for Detroit's Big Three. A final bill is still in the making but auto makers look like they'll get up to $17 billion in immediate loans to pay their bills through March.

Tapping TARP: While they're in town, lawmakers might also give Treasury head Paulson the okay to tap into the $350 billion left in the Trouble Assets Relief Program (aka the Wall Street bailout) - if he asks for it. The Treasury has used up almost half of the $700 billion rescue package and would need Congress' green-light to access the second half.

If you want to let your Congressfolk know where you stand on any of the issues above, you can email them through Congress.org, because...

Hey, it's your democracy too.

- teamJoe

Next update: January 6, 2009 - unless Congress decides to stick around next week.

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