Should Detroit's auto makers get financial aid from Congress?

disa · #1 (**permalink**) 11-17-2008, 01:13 AM

I am curious if "Detroit's auto makers be offered the same sort of lifeline that some financial institutions received from the U.S. Treasury in order to save 2m jobs in and around Detroit?"

TaxGuru · #2 (**permalink**) 11-19-2008, 09:42 AM

Well, the debate is now raging in Congress and both sides of the debate are expressing the concern of the long term ramifications of the demise of the Auto industry in the USA. I suspect the both the opponents and the proponents of the bailout are contemplating the loss in tax revenues if Detroit Auto makers collapse. So, lets wait and see the final numbers emerging from the Congressional hearing this week on the auto bailout!