Government Spending

Auto Bailouts More Expensive Than Previously Estimated

Taxpayers are on the hook for an extra $3.2 billion.

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The auto industry bailout's price tag has jumped a whopping $3.4 billion more than what the Treasury Department had previously estimated, according to a report.

The department announced in a report sent to Congress on Friday that the $85 billion bailout is estimated to cost taxpayers $25.1 billion, Reuters reported Monday. The Treasury's last quarterly estimate placed the total at $21.7 billion — and the new $25.1 billion loss is 15 percent higher than that previous forecast, according to the Detroit News.

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