Date: December 18, 1979
Subject: Chrysler Bailout
Description: Passage of the bill, as amended, to authorize $1.5 billion in federal loan guarantees for the Chrysler Corp., to be matched by $1.93 billion from other sources, including $400 million in wage concessions by the company's unionized workers and $100 million by other employees. This bill sets a dangerous precedent for government interference in private business and further undermines the ability of the free market to operate properly.
Result: Bill Passed, 271-136
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