Biden inflation reduction act Corporate Welfare. Go Dems.

[racer254]

https://goodjobsfirst.org/power-outrage-will-heavily-subsidized-battery-factories-generate-substandard-jobs-2/

 

Under a provision of the Inflation Reduction Act, some factories making batteries for electric vehicles will each receive more than a billion dollars per year from the U.S. government, with no requirement to pay good wages to production workers. Thanks to the Advanced Manufacturing Production Credit, also called 45X for its section in the Internal Revenue Code, battery companies will receive tax credits that they can use, sell, or cash out.

The 45X program alone will cost taxpayers over $200 billion in the next decade, far more than the $31 billion estimated by Congress’s Joint Committee on Taxation. On top of 45X and other federal incentives, factories manufacturing electric vehicles and batteries have also been promised well over $13 billion in state and local economic development incentives in just the past 18 months.

Ford Motor’s new $3.5 billion battery plant in Marshall, Michigan, will be eligible for an estimated $6.7 billion in federal 45X tax credits. State and local governments have already awarded it an additional $1.7 billion in subsidies. The company has promised to create 2,500 new jobs that it says will pay an average annual wage of just $45,000 a year, while reaping subsidies of $3.4 million per job.

[racer254]

For each job that GM creates in TN for their battery plant, they will get 7.7 million dollars in subsidies per job.

 

[Mainecat]

The drugs your on were subsidized by the taxpayer. What’s your point?

[racer254]

7.7 million for EACH job that only makes about 45k per year.  Sorry that had to be explained.  LETS GO BRANDON

You should watch jeff foxworthy, he talks about people like you.

Edited July 19, 2023 by racer254