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.