Reid: Autos Bailout Bill Still Alive In Senate

Senate Majority Leader Harry M. Reid (D-Nev.) said negotiations over a $14 billion loan deal for the auto industry have taken a positive turn, setting up a potential breakthrough, The Post's Paul Kane reports.

"We're a lot further down the road than I thought we would be," Reid said on the Senate floor moments ago.

While Reid spoke, a bipartisan group of senators and representatives from Detroit's Big Three automakers and United Auto Workers union were trying to broker an 11th-hour deal to salvage the rescue package one floor below the Senate in the ceremonial Foreign Relations Committee Room

One way or the other, Reid said, the negotiations would come to a final resolution tonight.

-- Frank Ahrens
The Ticker is Twittering!