May 23 (Bloomberg) -- General Motors Corp., facing rising cash needs before a June 1 bankruptcy deadline, tapped $4 billion more in U.S. aid to push its total to $19.4 billion.

GM’s latest loan from the Treasury exceeded a forecast of $2.6 billion, according to a regulatory filing yesterday by the largest U.S. automaker. Detroit-based GM said it needed $1.4 billion more in cash this month than it expected.

The accelerated borrowing schedule means GM will need $7.6 billion in June and beyond, a decrease from a planned $9 billion. GM has said a bankruptcy filing is now probable by June 1, the date set by President Barack Obama to restructure in or out of court.

“We appreciate President Obama’s and his administration’s ongoing support of GM and the domestic U.S. auto industry as we undertake the difficult but necessary actions to reinvent our company,” GM said in a statement confirming the borrowing.

GM and the Canadian Auto Workers union announced a cost- cutting labor deal yesterday, a day after the United Auto Workers union said bargainers gave tentative approval to new contract terms to trim the automaker’s U.S. labor expenses such as obligations to a retiree health-care trust.

Still unresolved is GM’s effort to swap equity for $27 billion in bondholder claims. Bondholders have until May 26 to respond to an April 27 offer from the company.

To contact the reporters on this story: Katie Merx in Southfield, Michigan, at kmerx@bloomberg.net

Last Updated: May 23, 2009 00:01 EDT