Chrysler and GM Will Not Receive Further Federal Aid

2009-06-12 05:03:05 (GMT) (WiredPRNews.com - Business, News, US Presidential News)

General Motors and Chrysler will reportedly not receive any additional government aid

The government reportedly has no plans to give more funding to the two automakers.

Wired PR News – Chrysler and General Motors will reportedly not receive any further aid from the government. As reported by the Associated Press (AP), the president’s auto task force stated to lawmakers Wednesday that the two automakers are not expected receive additional aid from government bailout funds, and that the public would likely recover the money paid by taxpayers.

Ron Bloom, an advisor to the task force is quoted by the AP as stating to the Senate Banking, Housing and Urban Affairs Committee, “We strongly believe this is the last money that GM will require. I cannot make a promise about the future but I can assure you that it has been a vigorously debated and thought about question.”

Bloom is further quoted as stating, “I do believe that there is a reasonable probability that we can get most if not all of our money back.”

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