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 ...
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United Auto Workers Union President Shawn Fain addressed UAW workers about concerns facing auto workers and battery workers at Ultium Cells in Lordstown. Fain said that some of the UAW workers were struggling to get by, and stated that the big 3 automakers, GM, Ford, and Stellantis (Chrysler, Fiat) made more than $36 million nearly profit last year he said during a live stream on Facebook from Detriot, Michigan Friday. Read the full article on WFMJ.com >>>