General Motors is currently gearing up for its initial public offering (IPO) in the wake of a multi-billion dollar government bailout.

A recent Reuters report has revealed that the U.S. Treasury Department, which currently owns the majority of GM, is calling the majority of the shots in the new IPO. The Obama administration has a vested interest in the company reeling in a lot of money through its offering.

If analysts value the company highly, it could go a long way toward paying back the $43 billion that it owes American taxpayers. In fact, if analysts are particularly keen on GM stock, American taxpayers could actually end up making money off of the bailout.

It's ultimately up to the federal government and other investors including the Canadian government and United Auto Workers union, how much stock they want to sell. Even if the government doesn't make all the money back in the bailout, they'll likely want to sell their remaining shares before the next presidential election.

The IPO will cap a significant turnaround for General Motors. The automaker has introduced a number of new models, and brands like Chevrolet have risen on consumer satisfaction surveys.

Drivers interested in a Chevy or any other vehicle may want to shop the used car market, where they can find deals on cars.