GMAC May be Taxed as Feds Recoup Bailout Money


Automotive News - January 19, 2010

Under a new Obama administration proposal, GMAC could be taxed as the bailout funds are recouped. But GM or Chrysler will be exempt. There’s still no decision on which banks or how much will be taxed. GMAC’s stability is crucial to GM and Chrysler recovering from bankruptcy reorganization.