Senate Democrats Propose $25B Auto Bailout Bill; Limits On Executive Pay and Bans Dividends

Senate Democrats proposed and auto bailout bill. The bill will provide $25 billion in loans to automakers, with 5% interest in first five year and 9% thereafter.

The bill also mandates limits on senior executive pay, bans bonuses for executives making more than $250,000.

The bill also bans dividend payments during the period of loan repayments.

Stocks: GM (NYSE: GM), Ford (NYSE: F), Lear (NYSE: LEA), American Axle & Manufacturing Holdings Inc. (AXL), Magna (NYSE: MGA).

You May Also Be Interested In

• Simmons Bank chief data officer Lisa Hunter to retire
• The Andersons (ANDE) Declares $0.2 Quarterly Dividend; 1.2% Yield
• Exchange Bank declares Q3 dividend, CEO to retire in 2027