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DCAA Audits: Widespread Problems with Audit Quality Require Significant Reform
A letter report issued by the Government Accountability Office with an abstract that begins "The Defense Contract Audit Agency (DCAA) under the Department of Defense (DOD) Comptroller plays a critical role in contractor oversight by providing auditing, accounting, and financial advisory services in connection with DOD and other federal agency contracts and subcontracts. Last year, GAO found numerous problems with DCAA audit quality at three locations in California, including the failure to meet professional auditing standards. This report addresses audit quality issues at DCAA offices nationwide. GAO was asked to (1) conduct a broad assessment of DCAA's management environment and audit quality assurance structure, (2) evaluate DCAA actions to date to correct previously identified problems, and (3) identify potential legislative and other actions for improving DCAA effectiveness and independence. To achieve these objectives, GAO analyzed DCAA's mission, strategic plan, audit policies, and quality assurance program; conducted interviews; reviewed selected audits at DCAA offices; and analyzed legislative and other actions."
Date:
September 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Federal User Fees: Additional Analyses and Timely Reviews Could Improve Immigration and Naturalization User Fee Design and USCIS Operations
A letter report issued by the Government Accountability Office with an abstract that begins "U.S. Citizenship and Immigration Services (USCIS) announced an increase to its immigration and naturalization application fees by an average of 86 percent, effective July 2007, contributing to a surge in application volume that challenged the agency's pre-adjudicative operations. In July 2007, the incoming application volume increased an unprecedented 100 percent over the prior month and the processing of 1.47 million applications was delayed. GAO was asked to review USCIS's current fee design and compare it to the principles in GAO's user-fee design guide and USCIS's management of operations affected by the new fees, specifically in projecting application volumes and contracting for application processing services. To do so, GAO reviewed legislation and agency documentation; compared the fee design to GAO's principles of effective user-fee design (equity, efficiency, revenue adequacy, and administrative burden); visited processing centers; and interviewed agency officials at these locations and in headquarters."
Date:
January 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Immigration Application Fees: Costing Methodology Improvements Would Provide More Reliable Basis for Setting Fees
A letter report issued by the Government Accountability Office with an abstract that begins "The Department of Homeland Security's (DHS) U.S. Citizenship and Immigration Services (USCIS) is responsible for granting or denying immigration benefits to individuals. USCIS charges fees for the millions of immigration applications it receives each year to fund the cost of processing and adjudicating them. In February 2007, USCIS completed a study to determine the full costs of its operations and the level at which application fees should be set to recover those costs. USCIS's new fee schedule increased application fees by a weighted average of 86 percent. Almost 96 percent of USCIS's fiscal year 2008 budget of $2.6 billion was expected to have come from fees. GAO was asked to review the methodology USCIS used in its fee review and controls in place over collection and use of fees. In this report, GAO addresses the consistency of the methodology with federal accounting standards and principles and other guidance, including whether key assumptions and methods were sufficiently justified and documented. The report also addresses internal controls USCIS has in place over the collection and use of fees."
Date:
January 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Nuclear Weapons: National Nuclear Security Administration Needs to Better Manage Risks Associated with Modernization of Its Kansas City Plant
A letter report issued by the Government Accountability Office with an abstract that begins "Built in 1943, the Kansas City Plant (KCP)--the National Nuclear Security Administration's (NNSA) primary production plant for manufacturing nonnuclear components of nuclear warheads and bombs--is to be modernized because of its age and the high cost of maintenance and operation. Among other changes, NNSA plans to relocate KCP to a new facility and increase components obtained from external suppliers from about 54 to 70 percent. KCP's continued supply of these components is essential for maintaining a reliable nuclear weapons stockpile. GAO was asked to determine (1) how KCP developed plans for modernization, (2) actions KCP has taken to ensure uninterrupted production of components, and (3) actions KCP has taken to address the risks of outsourcing. GAO reviewed planning documents and met with officials from NNSA, KCP, and Sandia National Laboratories, which designs many of the components produced at KCP."
Date:
October 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
U.S. Department of Justice: Information on Employment Litigation, Housing and Civil Enforcement, Voting, and Special Litigation Sections' Enforcement Efforts from Fiscal Years 2001 through 2007
A letter report issued by the Government Accountability Office with an abstract that begins "The Civil Rights Division (Division) of the Department of Justice (DOJ) is the primary federal entity charged with enforcing federal statutes prohibiting discrimination on the basis of race, sex, disability, religion, and national origin. GAO was asked to review the Division's enforcement efforts. This report addresses the activities the Division undertook from fiscal years 2001 through 2007 to implement its enforcement responsibilities through four of its sections (1) Employment Litigation, (2) Housing and Civil Enforcement, (3) Voting, and (4) Special Litigation. To conduct our review, GAO analyzed data on cases filed in court and matters (e.g., a referral or allegation of discrimination) investigated. To supplement this analysis, GAO also reviewed a sample of closed matter files (about 210 of 5,400). GAO randomly selected matters investigated under different statutes for each section and considered the government role (e.g., plaintiff or defendant) and type of issues investigated (e.g., the nature of the alleged discrimination or violation) to ensure that the sample reflected the breadth of the work and practices of each section. While not representative of all closed matters, the sample results provided examples of why matters were …
Date:
October 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
DHS: Organizational Structure and Resources for Providing Health Care to Immigration Detainees
Correspondence issued by the Government Accountability Office with an abstract that begins "Recent events have drawn attention to the health care provided to detainees held by U.S. Immigration and Customs Enforcement (ICE), a component of the Department of Homeland Security (DHS). For fiscal year 2004 through fiscal year 2007, ICE reported that 69 detainees died while in ICE custody, and during 2008, national news organizations investigated and published reports of the circumstances surrounding several detainee deaths. Other reports have also outlined concerns about the health care provided to detainees. For example, in 2007, the DHS Office of the Inspector General (OIG) found problems with adherence to ICE's medical standards at two ICE facilities it reviewed where detainee deaths had occurred. Additionally, members of Congress, the media, and advocacy groups have raised questions about the health care provided to detainees in ICE custody. An explanatory statement accompanying the fiscal year 2009 DHS appropriations act directed ICE to fund an independent, comprehensive review of the medical care provided to persons detained by DHS and identified $2 million for that purpose. ICE was created in March 2003 as part of DHS. From fiscal year 2003 through fiscal year 2007, the average daily population …
Date:
February 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Service-Disabled Veteran-Owned Small Business Program: Case Studies Show Fraud and Abuse Allowed Ineligible Firms to Obtain Millions of Dollars in Contracts
A letter report issued by the Government Accountability Office with an abstract that begins "The Service-Disabled Veteran-Owned Small Business (SDVOSB) program is intended to provide federal contracting opportunities to qualified firms. In fiscal year 2007, the Small Business Administration (SBA) reported $4 billion in governmentwide sole source and set aside SDVOSB contract awards. Given the amount of federal contract dollars being awarded to SDVOSB firms, GAO was asked to determine (1) whether cases of fraud and abuse exist within the SDVOSB program, and (2) whether the program has effective fraud-prevention controls in place. To identify whether cases exist, GAO reviewed SDVOSB contract awards and protests since 2003, and complaints sent to our fraud hotline. GAO defined a case as one or more affiliated firms who were awarded one or more SDVOSB contracts. To assess fraud-prevention controls, GAO reviewed laws and regulations and conducted interviews with SBA and Department of Veterans Affairs (VA) officials. GAO did not attempt to project the extent of fraud and abuse in the program."
Date:
October 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Retirement Savings: Automatic Enrollment Shows Promise for Some Workers, but Proposals to Broaden Retirement Savings for Other Workers Could Face Challenges
A letter report issued by the Government Accountability Office with an abstract that begins "Although employer-sponsored retirement plans can be an important component of income security after retirement, only about half of all workers participate in such plans. To foster greater participation among workers who have access to such plans, Congress included provisions that facilitate plan sponsors' adoption of automatic enrollment policies in the Pension Protection Act of 2006. To foster greater retirement savings among workers who do not have access to an employer-sponsored plan, proposals have been made at the federal level for an "automatic IRA" and at the state level for state-based programs. Because of questions about the extent of retirement savings and prospects for a sound retirement for all Americans, GAO was asked to determine (1) what is known about the effect of automatic enrollment policies among the nation's 401(k) plans, and the extent of and future prospect for such policies; and (2) the potential benefits and limitations of automatic IRA proposals and state-assisted retirement savings proposals. To answer these questions, GAO reviewed available reports and data, and interviewed plan sponsors, industry groups, investment professionals, and relevant federal agencies."
Date:
October 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Troubled Asset Relief Program: Treasury Actions Needed to Make the Home Affordable Modification Program More Transparent and Accountable
A letter report issued by the Government Accountability Office with an abstract that begins "GAO's sixth report on the Troubled Asset Relief Program (TARP) focuses on the Department of the Treasury's (Treasury) efforts to establish its Home Affordable Modification Program (HAMP). This 60-day report examines (1) the design of HAMP's program features with respect to maximizing assistance to struggling homeowners, (2) the analytical basis for Treasury's estimate of the number of loans that are likely to be successfully modified using TARP funds under HAMP, and (3) the status of Treasury's efforts to implement operational procedures and internal controls for HAMP. For this work, GAO reviewed documentation from Treasury and its financial agents and met with officials from Treasury, its financial agents, and other organizations."
Date:
July 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Federal Contractors: Better Performance Information Needed to Support Agency Contract Award Decisions
A letter report issued by the Government Accountability Office with an abstract that begins "In fiscal year 2007, federal agencies worked with over 160,000 contractors, obligating over $456 billion, to help accomplish federal missions. This reliance on contractors makes it critical that agencies have the information necessary to properly evaluate a contractor's prior history of performance and better inform agencies' contract award decisions. While actions have been taken to improve the sharing of past performance information and its use--including the development of the Past Performance Information Retrieval System (PPIRS)--concerns remain about this information. This report assesses agencies' use of past performance information in awarding contracts; identifies challenges that hinder systematic sharing of past performance information; and describes efforts to improve contractor performance information. In conducting this work, GAO analyzed 62 contract solicitations from fiscal years 2007 and 2008 and met with 121 contracting officials. While the solicitations represent a range of contracts and contractors, GAO's findings cannot be generalized to all federal contracts."
Date:
April 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Tax Administration: Opportunities Exist for IRS to Enhance Taxpayer Service and Enforcement for the 2010 Filing Season
A letter report issued by the Government Accountability Office with an abstract that begins "Preparing for the tax filing season is a significant undertaking for Internal Revenue Service (IRS). The filing season is when most individuals file their tax returns, receive refunds, and contact IRS if they have questions. As returns are received, IRS begins a series of automated compliance checks to correct errors on tax returns and ensure that refunds are justified. For example, IRS rejects electronically filed returns with basic errors requiring taxpayers to correct and resubmit them. It uses what is called "math error authority" to automatically correct obvious noncompliance such as violations of limits on deductions or credits, which allows IRS to avoid costly audits. IRS must begin preparing for each filing season months in advance and preparations include the following. (1) Revising tax forms and publications to implement tax law changes. Recent major law changes that affected the 2009 filing season include the (a) Economic Stimulus Act of 2008, which contained the recovery rebate credit allowing taxpayers who did not receive the full economic stimulus payment last year to claim some or all of the unpaid credit on their 2008 returns; (b) Housing and Economic …
Date:
September 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Program Evaluation: A Variety of Rigorous Methods Can Help Identify Effective Interventions
A letter report issued by the Government Accountability Office with an abstract that begins "Recent congressional initiatives seek to focus funds for certain federal social programs on interventions for which randomized experiments show sizable, sustained benefits to participants or society. The private, nonprofit Coalition for Evidence-Based Policy undertook the Top Tier Evidence initiative to help federal programs identify interventions that meet this standard. The Government Accountability Office (GAO) was asked to examine (1) the validity and transparency of the Coalition's process, (2) how its process compared to that of six federally supported efforts to identify effective interventions, (3) the types of interventions best suited for assessment with randomized experiments, and (4) alternative rigorous methods used to assess effectiveness. GAO reviewed documents, observed the Coalition's advisory panel deliberate on interventions meeting its top tier standard, and reviewed other documents describing the processes the federally supported efforts had used. GAO reviewed the literature on evaluation methods and consulted experts on the use of randomized experiments. The Coalition generally agreed with the findings. The Departments of Education and Health and Human Services provided technical comments on a draft of this report. The Department of Justice provided no comments."
Date:
November 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
2010 Census: Communications Campaign Has Potential to Boost Participation
Testimony issued by the Government Accountability Office with an abstract that begins "A complete and accurate census is becoming an increasingly daunting task, in part because the nation's population is growing larger, more diverse, and more reluctant to participate, according to the U.S. Census Bureau (Bureau). When the census misses a person who should have been included, it results in an undercount, and the differential impact on various subpopulations, such as minorities, is particularly problematic. This testimony provides an update on the Bureau's readiness to implement its Integrated Communications Campaign, one of several efforts aimed at reducing the undercount. GAO focused on the campaign's key components: partnerships with local and national organizations, paid advertising and public relations, and Census in Schools (designed to reach parents and guardians through their school-age children). GAO also discusses the extent to which the rollout of the campaign is consistent with factors important for greater accountability and successful results. This testimony is based on previously issued work, ongoing reviews of relevant documents, and interviews with key Bureau officials."
Date:
March 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
District of Columbia Public Schools: Implementation and Sustainability of Reform Efforts Could Benefit From Enhanced Planning
Testimony issued by the Government Accountability Office with an abstract that begins "This testimony presents information on the District of Columbia's (D.C. or the District) progress in reforming its public school system. The District's school system has had long-standing problems with student academic performance, the condition of school facilities, and its overall management. The District's public schools have fallen well behind the District's own targets for demonstrating adequate yearly progress toward meeting the congressionally mandated goal of having 100 percent of students proficient in math, reading, and science by 2014, as outlined in the Elementary and Secondary Education Act of 1965, as amended by the No Child Left Behind Act (NCLBA). In addition, the U. S. Department of Education (Education) designated the District as a high-risk grantee in April 2006 because of its poor management of federal grants. Of the nearly $762 million the District spends on D. C. public schools (DCPS), 16 percent comes from federal sources. In an effort to address the school system's long-standing problems, the Council of the District of Columbia (D.C. Council) approved the Public Education Reform Amendment Act of 2007 (Reform Act), which made major changes to the operations and governance of the school …
Date:
July 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
V-22 Osprey Aircraft: Assessments Needed to Address Operational and Cost Concerns to Define Future Investments
Testimony issued by the Government Accountability Office with an abstract that begins "Since the 1980s, the V-22, developed to transport combat troops, supplies, and equipment for the U.S. Marine Corps and to support other services' operations, has experienced several fatal crashes, demonstrated various deficiencies, and faced virtual cancellation--much of which it has overcome. Although recently deployed in Iraq and regarded favorably, it has not performed the full range of missions anticipated, and how well it can do so is in question. Given concerns about the V-22 program, GAO recently reviewed and on May 11, 2009, reported on MV-22 operations in Iraq; strengths and deficiencies in terms of the capabilities expected of the V-22; and past, current, and future costs. In that report, GAO recommended that the Secretary of Defense require (1) a new alternatives analysis of the V-22 and (2) that the Marine Corps develop a prioritized strategy to improve system suitability, reduce operational costs, and align future budget requests. The Department of Defense (DOD) concurred with the second recommendation, but not the first. GAO believes both recommendations remain valid. This testimony highlights GAO's findings from that report. In speaking of the V-22, we are actually speaking of two variants …
Date:
June 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Geostationary Operational Environmental Satellites: Acquisition Has Increased Costs, Reduced Capabilities, and Delayed Schedules
Testimony issued by the Government Accountability Office with an abstract that begins "The Department of Commerce's National Oceanic and Atmospheric Administration (NOAA), with the aid of the National Aeronautics and Space Administration (NASA), plans to procure the next generation of geostationary operational environmental satellites, called the Geostationary Operational Environmental Satellite-R series (GOES-R). GOES-R is to replace the current series of satellites, which will likely begin to reach the end of their useful lives in 2014. This series is considered critical to the United States' ability to maintain the continuity of data required for weather forecasting through the year 2028. GAO was asked to summarize its report being released today that (1) determines the status of the GOES-R program, (2) evaluates whether plans for the acquisition address problems experienced on similar programs, and (3) determines whether NOAA's plan will be adequate to support current data requirements."
Date:
April 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Federal Air Marshal Service: Actions Taken to Fulfill Core Mission and Address Workforce Issues
Testimony issued by the Government Accountability Office with an abstract that begins "By deploying armed air marshals onboard selected flights, the Federal Air Marshal Service (FAMS), a component of the Transportation Security Administration (TSA), plays a key role in helping to protect approximately 29,000 domestic and international flights operated daily by U.S. air carriers. This testimony discusses (1) FAMS's operational approach or "concept of operations" for covering flights, (2) an independent evaluation of the operational approach, and (3) FAMS's processes and initiatives for addressing workforce-related issues. Also, this testimony provides a list of possible oversight issues related to FAMS. This testimony is based on GAO's January 2009 report (GAO-09-273), with selected updates in July 2009. For its 2009 report, GAO analyzed policies and procedures regarding FAMS's operational approach and a July 2006 classified assessment of that approach. Also, GAO analyzed employee working group reports and related FAMS's initiatives for addressing workforce-related issues, and interviewed FAMS headquarters officials and 67 air marshals (selected to reflect a range in levels of experience)."
Date:
July 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Capitol Visitor Center: Construction Expected to Be Completed within Current Budget Estimate
Testimony issued by the Government Accountability Office with an abstract that begins "This testimony focuses on (1) the Architect of the Capitol's (AOC) construction progress since the last Capitol Visitor Center (CVC) hearing on September 24, 2008, and (2) the project's expected cost at completion and funding status. Today's remarks are based on our review of schedules and financial reports for the CVC project and related records maintained by AOC and its construction management contractor, Gilbane Building Company; our observations on the progress of work at the CVC; and our discussions with AOC."
Date:
July 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
High Speed Passenger Rail: Effectively Using Recovery Act Funds for High Speed Rail Projects
Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses the implementation of high speed intercity passenger rail projects in the American Recovery and Reinvestment Act of 2009 (the Recovery Act). The $8 billion provided by the Recovery Act for high speed and other intercity passenger rail projects has focused more attention on and generated a great deal of anticipation about the possibility of developing high speed rail systems in the United States. These projects are seen by some as serving an important transportation role, by moving people quickly and safely, reducing highway and airport congestion, and being environmentally friendly. This testimony focuses on (1) the factors identified that affect the economic viability of high speed rail projects and (2) how the Federal Railroad Administration's (FRA) recent strategic plan incorporates those factors."
Date:
June 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Recovery Act: Funds Continue to Provide Fiscal Relief to States and Localities, While Accountability and Reporting Challenges Need to Be Fully Addressed (Appendixes), an E-supplement to GAO-09-1016
Other written product issued by the Government Accountability Office with an abstract that begins "This supplementary report to GAO-09-1016 provides individual state appendixes for 16 states and the District of Columbia for GAO's work on the third of its bimonthly reviews of the American Recovery and Reinvestment Act (Recovery Act). GAO's work focused on nine federal programs that are estimated to account for approximately 87 percent of federal Recovery Act outlays in fiscal year 2009 for programs administered by states and localities."
Date:
September 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Recovery Act: As Initial Implementation Unfolds in States and Localities, Continued Attention to Accountability Issues Is Essential
Testimony issued by the Government Accountability Office with an abstract that begins "This testimony discusses GAO's work examining the uses and planning by selected states and localities for funds made available by the American Recovery and Reinvestment Act of 2009 (Recovery Act). The Recovery Act is estimated to cost about $787 billion over the next several years, of which about $280 billion will be administered through states and localities. Funds made available under the Recovery Act are being distributed to states, localities, and other entities and individuals through a combination of grants and direct assistance. As Congress may know, the stated purposes of the Recovery Act are to: (1) preserve and create jobs and promote economic recovery; (2) assist those most impacted by the recession; (3) provide investments needed to increase economic efficiency by spurring technological advances in science and health; (4) invest in transportation, environmental protection, and other infrastructure that will provide long-term economic benefits; and (5) stabilize state and local government budgets, in order to minimize and avoid reductions in essential services and counterproductive state and local tax increases. As described in GAO's March testimony, the Recovery Act specifies several roles for GAO including conducting bimonthly reviews of …
Date:
April 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Military Personnel: Reserve Component Servicemembers on Average Earn More Income while Activated
Correspondence issued by the Government Accountability Office with an abstract that begins "Since September 2001, the Department of Defense (DOD) has relied heavily on the reserve component primarily in support of ongoing contingency operations for the Global War on Terrorism, which is now known as the Overseas Contingency Operation. As of February 2009, approximately 691,000 reserve servicemembers have been activated in support of operations in Iraq and Afghanistan, with many of these servicemembers being called for multiple deployments or extended for more than one year. This increased use of the reserve component servicemembers has led to questions by Congress about whether reserve component servicemembers might be experiencing a decline in earnings as a result of extended and frequent activations. Citing the nation's increased reliance on the reserve component, Congress mandated in 2002 that we review compensation programs available to reserve component servicemembers serving on active duty. In September 2003, we reported that DOD lacked sufficient information to determine the need for compensation programs and recommended that DOD obtain more complete information on the magnitude of income change, the causes of any such identified change, and the effect of income change on retention. The results of DOD's 2004 Status of Forces …
Date:
June 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Text
System:
The UNT Digital Library
Securing, Stabilizing, and Developing Pakistan's Border Area with Afghanistan: Key Issues for Congressional Oversight
A letter report issued by the Government Accountability Office with an abstract that begins "Since 2002, destroying the terrorist threat and closing the terrorist safe haven along Pakistan's border with Afghanistan have been key national security goals. The United States has provided Pakistan, an important ally in the war on terror, with more than $12.3 billion for a variety of activities, in part to address these goals. About half of this amount has been to reimburse Pakistan for military-related support, including combat operations in and around the Federally Administered Tribal Areas (FATA). Despite 6 years of U.S. and Pakistani government efforts, al Qaeda has regenerated its ability to attack the United States and continues to maintain a safe haven in Pakistan's FATA. As the United States considers how it will go forward with efforts to assist Pakistan in securing, stabilizing, and developing its FATA and Western Frontier bordering Afghanistan, it is vital that efforts to develop a comprehensive plan using all elements of national power be completed and that continued oversight and accountability over funds used for these efforts are in place."
Date:
February 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library
Auto Industry: Summary of Government Efforts and Automakers' Restructuring to Date
A letter report issued by the Government Accountability Office with an abstract that begins "The turmoil in financial markets and the economic downturn has brought significant financial stress to the auto manufacturing industry. The economic reach of the auto industry in the United States is broad, affecting autoworkers, auto suppliers, stock and bondholders, dealers, and certain states. To help stabilize the U.S. auto industry and avoid disruptions that could pose systemic risk to the nation's economy, in December 2008 the Department of the Treasury established the Automotive Industry Financing Program (AIFP) under the Troubled Asset Relief Program (TARP). From December 2008 through March 2009, Treasury has allocated about $36 billion to this program, including loans to Chrysler Holding LLC (Chrysler) and General Motors (GM). GAO has previously identified three principles to guide federal assistance to large firms: define the problem, determine the national interests and set goals and objectives, and protect the government's interests. As part of GAO's statutorily mandated responsibilities to provide timely oversight of TARP activities, this report discusses the (1) nature and purpose of assistance to the auto industry, (2) how the assistance addresses the three principles, and (3) important factors for Chrysler and GM to address …
Date:
April 23, 2009
Creator:
United States. Government Accountability Office.
Object Type:
Report
System:
The UNT Digital Library