Backers of a program that would lend up to $25 billion to automakers and auto parts suppliers said today they had garnered 71 U.S. House members to support their search for $3.75 billion in funding over the next couple of months.

The program, known as the Advanced Technology Vehicles Manufacturing Incentive Program, was meant to help automakers meet fuel economy standards of 35 miles per gallon by 2020. Created but not funded by Congress last year, the program would provide low-cost loans to cash-strapped automakers and their suppliers for engineering fuel-efficient vehicles or converting old plants.

The $3.75 billion would cover the government’s borrowing costs for up to $25 billion in loans, along with a small reserve for defaults.

While House and Senate Democrats have raised the idea of a second economic stimulus plan — the most likely carrier for such a proposal — the Bush administration has opposed it so far, and the prospects are murky. Congress won’t consider any such plan before leaving for August recess this week, and with no plans to convene after the election, the plan would need to be passed sometime in September.

My reaction is why?  These companies were aware of the coming crisis but yet did nothing to avoid it.  Their answer has been to fire or layoff workers.  I say screw them!