Hoyer hopes for auto action next week by Congress

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WASHINGTON (Reuters) - House of Representatives Democratic Leader Steny Hoyer said on Tuesday he hoped Congress will be able to take action next week on struggling U.S. auto manufacturers' requests for federal financial aid.

"Today, the automakers are presenting to Congress their plans for restructuring," said the Maryland Democrat in a statement. "We will examine them closely in the days to come."

Congressional committees will hold hearings on Thursday and Friday on auto makers' pleas for $25 billion in assistance.

"I hope that those hearings, along with the plans submitted today, will lead to increased public confidence in the auto industry's viability and that Congress will be able to take action NEXT (NXT.LO)week," Hoyer said.

Last month, the CEO's of Detroit's Big Three automakers testified before congressional committees seeking aid, but were sent home empty-handed and with the request that they return with "viability" plans proving they deserve taxpayer help.

Ford Motor Co unveiled its plan on Tuesday morning. General Motors Corp and privately held Chrysler LLC were expected to unveil their plans later.

"Before any taxpayer money is provided, the American people deserve to know how the Big Three plan to survive the current crisis, become competitive companies once again, and eventually repay taxpayer loans," Hoyer said.

"The American people also need to be assured that the companies will be held accountable for any tax dollars they receive, and that CEOs will not be rewarded with exorbitant salaries."

(Reporting by Kevin Drawbaugh; editing by Richard Chang)

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