Taxpayers could still lose $19 billion from auto bailout
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A congressional watchdog panel said Thursday that taxpayers are still likely to lose billions of dollars from the government’s bailout of the domestic auto industry. But taxpayers won’t lose as much as first thought.
The taxpayers’ position has “starkly improved†since the last review by the Congressional Oversight Panel in September 2009. At the time, the Congressional Budget Office estimated that taxpayers would lose $40 billion on their automotive investments. The estimated loss now stands at about $19 billion but continues to change.
Read more: ‘Auto industry bailout working but taxpayers still $19 billion in the red.’
Other auto industry news:
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Toyota boss says his cars need better styling
VW has new Passat and big sales goals
-- Jerry Hirsch
