Filed under: Etc., Government/Legal, Earnings/Financials
Last week, the government avoided a costly shutdown by cutting $38 billion from the 2012 federal budget. The American people are just now hearing what those cuts consist of, and it appears the auto industry and industry regulation have been affected.
The Detroit News is reporting that the currently vacant Car Czar posts was among the positions that didn’t make the cut. The post was last held by Ron Bloom (above), Senior Adviser to the Secretary of the Treasury, who left the job in February. The Car Czar was originally appointed to oversee the government’s investment in the industry in the wake of the bankruptcies of General Motors and Chrysler.
We’re guessing the task force position won’t be missed much by the auto industry, but a $408 million cut from a $ 2.3 billion program to research fuel efficiency technology might be. Also getting the axe? A whopping $2.9 billion from light rail initiatives and $37 million from a program that advocates seatbelt usage.
[Source: The Detroit News]
Report: ‘Car Czar’ post nixed as part of federal budget deal originally appeared on Autoblog on Tue, 12 Apr 2011 14:26:00 EST. Please see our terms for use of feeds.
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