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.
Get the latest news and analysis delivered to your inbox. Sign up for National Journal's morning alert, Wake-Up Call, and afternoon newsletter, The Edge. Subscribe here.
Leave A Comment