II 

111TH CONGRESS 

2D SESSION S. 3526 

To require the GAO to evaluate the propriety of assistance provided to 

General Motors Corporation under the Troubled Asset Relief Program, 

and for other purposes. 

IN THE SENATE OF THE UNITED STATES 

JUNE 23, 2010 

Mr. WICKER introduced the following bill; which was read twice and referred 

to the Committee on Homeland Security and Governmental Affairs 

A BILL 

To require the GAO to evaluate the propriety of assistance 

provided to General Motors Corporation under the Troubled Asset Relief Program, and for other purposes. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. PROVISION OF INFORMATION TO THE GAO. 

4 (a) IN GENERAL.—Not later than 90 days after the 

5 date of enactment of this Act, the Presidential Task Force 

6 on the Auto Industry (hereafter in this Act referred to 

7 as the ‘‘Task Force’’) shall submit to the Government Ac8 countability Office all information in its possession relat9 ing to certain specific communications involving General 


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1 Motors Corporation (hereafter in this Act referred to as 

2 ‘‘General Motors’’), relating to the role of the Task Force 

3 in negotiating, reviewing, approving, or any other aspect 

4 of— 

5 (1) the plans for reorganization or restructuring 

6 in connection with bankruptcy proceedings that com7 menced during 2009 under chapter 11, of title 11, 

8 United States Code (hereafter in this Act referred to 

9 as ‘‘bankruptcy proceedings’’), with respect to Gen10 eral Motors; 

11 (2) levels of and reductions in— 

12 (A) the employee and retiree benefits of 

13 current and former General Motors salaried 

14 employees, union employees, and non-union 

15 hourly employees; and 

16 (B) retiree benefits for former employees 

17 of the Delphi Corporation (hereafter in this Act 

18 referred to as ‘‘Delphi’’), including its salaried 

19 retirees, non-union hourly retirees, and union 

20 retirees; 

21 (3) the determination of General Motors not to 

22 alter any pre-existing pension obligations (including 

23 Delphi pension obligations) during bankruptcy pro24 ceedings; 


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1 (4) the determination of General Motors to ex2 pand pension benefits for former unionized Delphi 

3 employees that did not have a pre-existing pension 

4 agreement with General Motors; and 

5 (5) actual payments made by the United States 

6 to General Motors, including any schedule of pay7 ments, any formal or informal terms and conditions 

8 governing such payments, and the amount of inter9 est in ownership the Federal Government would ac10 quire of General Motors and any terms or conditions 

11 as such. 

12 (b) PROVISION OF INFORMATION TO GAO.—Notwith13 standing any other provision of law, not later than 90 days 

14 after the date of enactment of this Act— 

15 (1) the National Archives and Records Adminis16 tration shall submit to the Government Account17 ability Office all information in its possession related 

18 to certain specific communications that occurred be19 tween October 3, 2008, and January 20, 2010, re20 lated to the role of the Department of the Treasury 

21 in negotiating, reviewing, approving, determining, or 

22 in any other aspect relating to General Motors quali23 fying for Federal financial assistance under the 

24 Troubled Asset Relief Program, including any schedVerDate Mar 15 2010 02:55 Jun 24, 2010 Jkt 089200 PO 00000 Frm 00003 Fmt 6652 Sfmt 6201 E:\BILLS\S3526.IS S3526

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1 ule of payments, and any formal or informal terms 

2 and conditions governing such payments; and 

3 (2) the Pension Benefit Guaranty Corporation 

4 shall submit to the Government Accountability Of5 fice all information in its possession related to cer6 tain specific communications that occurred in 2009 

7 relating to the role of that Office in negotiating, re8 viewing, approving, determining, or in any other as9 pect related to the decision to remove the liens held 

10 on the overseas assets of Delphi. 

11 SEC. 2. REPORT TO CONGRESS. 

12 (a) AUDIT REQUIRED.—The Government Account13 ability Office shall audit the specific communications re14 quired under section 1 and shall, not later than 1 year 

15 after the date of enactment of this Act, submit a report 

16 to the Senate and the House of Representatives containing 

17 its findings. The Government Accountability Office shall, 

18 in conducting such audit, consider any relevant and pub19 lically available bankruptcy records of General Motors and 

20 Delphi. 

21 (b) CONSIDERATIONS.—The audit under subsection 

22 (a) shall consider— 

23 (1) any decision made during General Motors 

24 bankruptcy proceedings that appears to be quid pro 


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1 quo and unduly influenced by the receipt of Federal 

2 funds from the Troubled Asset Relief Program; 

3 (2) any business decision that General Motors 

4 made during bankruptcy proceedings that would be 

5 unlikely for a similar for-profit business (that is not 

6 receiving Federal assistance under the Troubled 

7 Asset Relief Program) to make; 

8 (3) any action or measure that any Federal 

9 Government official took to persuade or force Gen10 eral Motors to take any particular action or meas11 ure; and 

12 (4) whether the decision for the Pension Ben13 efit Guarantee Corporation to remove the liens held 

14 on the overseas assets of Delphi was in the best in15 terest of United States taxpayers. 

Æ 


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