Auto Industry Financing and Restructuring Act

[AI summary unavailable — showing source text] Auto Industry Financing and Restructuring Act - Directs the President to designate one or more executive branch officers (designee) to carry out the purposes of this Act. Requires the designee to authorize and direct the disbursement of bridge loans or to enter into commitments for lines of credit to each automobile manufacturer that submitted to Congress a plan on December 2, 2008, and request for such loan or commitment ("automaker," for purposes of this Act). Establishes as the amount of such assistance the amount intended to facilitate continued operations of the automaker and prevent its failure. Directs the designee to: (1) determine measures to assess the progress of each automaker for transforming the plan submitted into a restructuring plan; (2) evaluate progress toward developing a restructuring plan after a 45-day period beginning when the assessment measures were established; and (3) facilitate agreement on a restructuring plan to achieve and sustain the long-term viability, international competitiveness, and energy efficiency of an automaker. Requires each automaker to submit a restructuring plan to the designee no later than March 31, 2009. Directs the desig…