Congressman Tim Ryan Calls For Congressional Hearings on GM Tax Cuts

    

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Congressman Tim Ryan (OH-13) today called for Congressional hearings to look into how General Motors (GM) utilized millions of dollars in tax cuts. This comes in the wake of GM’s announcement that they are laying off 14,700 workers and closing 5 facilities across North America. GM’s plant in Lordstown, Ohio is among those impacted, which will result in the loss of 1,618 jobs once the closure begins in March of 2019. In a letter written to Representatives Kevin Brady (R-TX) and Richard Neal (D-MA) — Chairman and Ranking Member of the House Ways and Means Committee –  Ryan called on Congress to hold public hearings into how the corporate leadership of GM used their windfall from the massive tax reform bill passed last year.

“It is squarely within the oversight responsibility of the House Ways and Means Committee to investigate the outcome of this corporate tax handout.  I strongly urge the Committee to hold hearings where GM and other corporations who have laid off workers since the passage of the tax break are called to testify regarding tax breaks they received and how this money was spent.  The American people deserve to know if the tax cuts they paid for are being used to inflate corporate profits at the expense of their economic security and the survival of American workers,” read the letter.



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