U.S. President Barack Obama rejected the restructuring plans from GM and Chrysler Monday and gave the automakers a short window to revise their bids if they want to receive federal bailout money.
GM has already received US$13.4 billion in government loans while Chrysler was given US$4 billion during the economic downturn.
In February, GM asked for $16.6 billion more while Chrysler sought $5 billion more.
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