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Auto Bailout To Cost $3.4 Billion More Auto Bailout To Cost $3.4 Billion More

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White House

Auto Bailout To Cost $3.4 Billion More

August 14, 2012

A new estimate from the U.S. Treasury Department on Monday shows that the auto industry bailout will cost taxpayers $3.4 billion more than a previous estimate, Reuters reported.

The cost, according to the estimate, is now $25.1 billion, up from $21.7 billion, about a 14 percent hike.

The U.S. has recovered about half of the $80 billion bailout, according to Reuters. Both GM and Chrysler have both returned to profit following the bailout.

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