UAW Blasts Biden and Inflation Reduction Act

Manufacturing Production Credit IRS code 45x- courtesy of and copyright Good Jobs First – July 2023

Ken Zino of AutoInformed.com on UAW Blasts Biden and Inflation Reduction Act

Click to enlarge the subsidies for corporations.

The UAW once again blasted the bipartisan Inflation Reduction Act in its latest attempt to protect the jobs, health, and safety of its members. Using data from a new Good Jobs First* report.

Good Jobs First did the math for five recently announced battery factories. Here’s what we learned:
• Total subsidies will range from $2 million to $7 million per job.
• Average annual wages, as announced, will be below the current national average for production workers in the automotive sector.
• The 45X credit alone is large enough to cover each facility’s initial capital investment cost and wage bill for the first several years of production.

For example, 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.

*More on Good Jobs First click here.

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