US Treasury Secretary Henry Paulson said he would ask Congress to free up the second $350-billion tranche of a massive Wall Street bailout plan approved in October.
The US administration yesterday announced it would tap into the Treasury's $700 billion Troubled Asset Relief Program (TARP) to extend $13.4 billion in loans to help the country's ailing automakers.
"It is clear ... That Congress will need to release the remainder of the TARP to support financial market stability," Paulson said in a statement. "I will discuss that process with the congressional leadership and the president-elect's transition team in the near future."
