March 2009

Saved the American Auto Industry

The Obama Administration required that Chrysler and General Motors (GM) adopt viable restructuring plans in exchange for temporary federal loan support, including building more fuel efficient cars.

On December 19, 2014, Treasury announced that it had exited the last Troubled Asset Relief Program (TARP) equity investment under the Auto Industry Financing Program. The auto industry has fully exited the temporary federal programs that supported them, repaying the American taxpayer every dollar and more of what the Obama Administration committed.

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