Move over Detroit, look out AIG, it looks like the U.S. is now going to try to save music.

In an amendment hidden deep inside the bailout bill, a U.S. senator, whom has yet to be revealed, added an amendment to save troubled music festivals.

The amendment would open a fund that would allow small and medium sized music festivals throughout the U.S. who are on the verge of canceling their events, as well as those who already canceled, from continuing.

A part of the amendment reads:

“In these troubled times one of the greatest gifts to states are large events (i.e. festival) which have a great positive impact to the local economy, including creating short term jobs as well as raising money from the fees organizers pay to the city to hold these events. Allowing these events to die out would further hurt local economies”

No word on how much money would be set up to help out these festival organizers.

More info as we receive it.