Bloomberg by the Numbers: $300 Million

Family members, whose loved ones were killed in auto accidents linked to a defect in General Motors Co. cars, place photos of the accident victims in the hearing room at a House Energy and Commerce Committee hearing in Washington, D.C., on April 1, 2014.

Photograph by Pete Marovich/Bloomberg

Family members, whose loved ones were killed in auto accidents linked to a defect in General Motors Co. cars, place photos of the accident victims in the hearing room at a House Energy and Commerce Committee hearing in Washington, D.C., on April 1, 2014.

The Obama administration is proposing to raise to $300 million the maximum civil penalty on carmakers accountable for defects.

That would be more than eight times the current maximum fine of $35 million, as Bloomberg’s Laura Litvan explains in this story.

It’s a response to General Motors Co.’s ignition-switch problems.

That provision was included in a four-year, $302 billion surface transportation bill unveiled yesterday by Transportation Secretary Anthony Foxx.

“Congressional transportation leaders in both parties have said they want to pursue six-year measures, though there is little consensus on how to finance the proposals,” Litvan wrote.

 

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