Notice is a historical project of the Committee for a Responsible Federal Budget, which tracked the money spent by the 2009 stimulus bill. This site is not regularly updated.

Assistance to Auto Industry

December 19, 2008
Economic Target: 
Action Type: 
Maximum Amount: 
$85.00 billion
Amount Spent: 
$41.54 billion
Deficit Impact: 
$19.00 billion

Loans to beleaguered domestic automakers under the "Automotive Industry Financing Program" within the Troubled Assets Relief Program (TARP).

In order to assist the beleaguered automaker industry, TARP has allocated $80 billion in loans and equity purchases for domestic automakers. This began with just under $18 billion in “bridge loans” to prevent Chrysler and General Motors in order to help these firms avoid bankruptcy. Although Chrysler and GM presented different difficulties and issues, in each case the Administration eventually considered bankruptcy the best option for future success by clearing away old liabilities. To provide working capital and exit financing for Chrysler and GM both before and through the bankruptcies in April and June, respectively, the Treasury made over $58 billion available from TARP funds. From the Treasury’s financial support during the bankruptcies and its assistance in reorganizing the companies, the government now holds 8 and 61 percent equity stakes in New Chrysler and New GM, respectively.


Amount spent indicates loans and other funds issued as of 8/22/2012 (

Maximum amount is based on Administration documents on commitments and potential use of TARP funds. Deficit impact calculated by CRFB, using CBO's practice of estimating costs on a risk-adjusted present value basis.  Deficit impact is from CBO's March 2011 Report on TARP.

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