Taxpayers will lose $3.3 billion more on the auto industry bailout than the government predicted two months ago, hurt by General Motors’ falling stock price.
The Treasury Department expects to lose $25.05 billion on the bailout, up from a previous estimated loss of $21.7 billion. GM’s stock price fell 15 percent during that period.
The government spent about $80 billion to bail out GM, Chrysler and Ally Financial, the former finance arm of GM.
So far it’s gotten back just over $37 billion.