Te only reason I don;t think that would work is the fact that the Big 3 isn't making much money selling their cars anyways. The business model is broken, what the want and need is a handout. They need $50 billion without manufacturing a car in return. With the handout they are seeking they'll have their slim car profit margin plus and additional $50 billion. With the rebate, they'll get $50 billion in sales but the margin they keep is slim.

Let em sink!