Updated

Vice President Dick Cheney accused Congress of failing to help a dying U.S. auto industry, leaving President Bush no choice but to step in with billions of dollars in loans, he told FOX News on Friday.

The vice president spoke with FOX News Sunday's Chris Wallace, shortly after Bush announced that the federal government would offer $17.4 billion in rescue loans to automakers.

Wallace said Cheney also took a newsworthy shot at his successor, Vice President-elect Joe Biden. The comments will air on FOX News Sunday.

Cheney Unplugged: Watch the full interview with Cheney on FOX News Sunday, this Sunday at 6 p.m. ET. 

The president's auto proposal triggered some objections from Republican leaders on Capitol Hill Friday. But Cheney defended the move.

"We believe that this was, in fact, the best course of action. I think it is a good package," Cheney said. "I think we talk about the Congress being critical -- they had ample opportunity to deal with this issue and they failed.

"The president had no choice but to step in," he said.

The House of Representatives earlier approved a $14 billion auto bailout bill, but the measure died in the Senate last week amid GOP objections.