Obama: Auto Maker Bailout Funds Tied to Restructuring, Emissions Cuts
President Barack Obama is expected to make a decision in late March about a possible bailout for the financially troubled U.S. auto industry, reported the Legal Newsline. Automotive companies may get taxpayer help if they agree to restructure their businesses and employ stricter emissions regulations.
An Obama task force must decide by March 31 if General Motors and Chrysler should receive $22 billion in bailout funds after already receiving $17.4 billion in December, reported Legal Newsline.
A group of state attorneys general are pushing for stricter emissions regulations if they are to receive taxpayer money. They want financially troubled automakers to produce more fuel-efficient cars and cut GHG emissions.
In January, Obama ordered the Environmental Protection Agency to reconsider California’s request to decide on its own limits on auto emission standards.
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