Date: December 19, 1979
Subject: Chrysler Bailout
Description: Passage of the bill to authorize $1.5 billion in federal loan guarantees for the Chrysler Corp., to be matched by $2.1 billion from other sources, and to establish a $175 million employee stock ownership plan. This federal bailout 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, 53-44
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