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.