Obama Administration Proposes $800 Million To Clean Up GM Sites
The Obama administration proposed a trust fund of $800 million to pay for the cleaning up of closed GM sites across 14 states. This is in addition to the $50 billion bail-out GM received in government aid.
Ed Montgomery, the lead of the White House Council on Automotive Communities and Workers said that the fund would be used to clean up about 90 properties that have been shut down and abandoned.
About $536 million would be used to clean up the manufacturing facilities and $300 would be used to help states pay for property taxes and demolition costs. [eGMCarTech]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry