Race against clock for US auto giants

The debate over the automaker bailout in Congress has become a race against the clock.

The US House voted 237-170 yesterday morning (Beijing time) to approve emergency loans for General Motors Corp. and Chrysler LLC, shifting the focus to the Senate, where Republican opposition threatens to delay or kill the legislation.

Democratic leaders and the Bush administration are trying to beat a deadline to save the companies and the millions of jobs dependent on the industry before GM and Chrysler burn through their remaining cash. For GM, that could be in three weeks.