U.S. Treasury Secretary Timothy Geithner on Tuesday faced questions from a Senate committee about its role in overseeing loans to the U.S. automotive industry, according to The Detroit Free Press.

General Motors and Chrysler have to submit cost-cutting plans by Tuesday under the terms of their $17.4 billion in loans. Chrysler has said it needs an additional $3 billion, while suppliers and dealers also have asked for federal aid.

Under the terms of the federal loans, GM and Chrysler must prove they can be viable by March 31 or the government can call back the loans and put them into bankruptcy.

Industry and government officials say the leading candidate for the role of car czar remains Steven Rattner, a New York financier with experience in distressed companies who likely would be supported by a team of experts, including former industry analyst Stephen Girsky.