Public policy news for the new year

There has been a lot of activity in both the Michigan & U.S. Legislatures this past month! Thank you all for taking action and speaking out! Be sure to thank your elected officials that voted for the passage of this key legislation as well as the sponsors and co-sponsors.

Auto Loans
The Auto Industry Bridge Loan Act was not approved by members of Congress before the recessed for the holiday and ending the session of the 110th Congress. Realizing that immediate action was needed, President Bush permitted the use of $13.4 billion in Troubled Assets Relief Program (TARP) funds to be used for short-term, low-interest loans for GM & Chrysler, with another $4 billion pending in February (with approval from Congress).

Financial Literacy Bill (SB 834)
The bill that will allow financial literacy courses to count towards meeting the state’s high school graduation requirements has been signed into law and is now Public Act 316 of 2008.

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