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Home / Business / Politicians are really mad at GM for slashing jobs after last year's massive tax shot

Politicians are really mad at GM for slashing jobs after last year's massive tax shot



Photo: GM
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Politicians are mad at General Motors, investors are pleased with General Motors, Carlos Ghosn's arrested blindside French, and more waiting for you tomorrow morning 27 November 2018.

1st Gear: Oh Hello, Remember that Bailout? And the tax cut?

Man, remember when General Motors got a massive federal rescue after declaring Chapter 11? And then was the big tax break from last year's GOP tax bill, where did the money go?

Apparently not against American jobs when the company announced that it would close several factories in Ohio and Michigan (and Canada, not America) and cut around 15,000 jobs yesterday.

People are pissed off. Politicians in particular.

Both Democratic and Republican politicians are mad, according to Bloomberg. Ohio Democratic Senator Sherrod Brown, tweeted that although GM had "gotten a massive tax break" last year, it still failed to invest the money in American jobs. He called the decision "corporate greed at its worst."

Democratic representative Tim Ryan, whose district includes the Lordstown facility, wants congressional hearings about how GM used tax cutbacks.

From the story:

"The American people deserve to know about the tax cuts they paid to be used to inflate corporate profits at the expense of their financial security and survival of American workers, "wrote Ryan in a letter to the leaders of the House Ways and Means Committee. He urged them to investigate the outcome of this corporate Tax Handout.

And Ohio Republican Senator Rob Portman (as Bloomberg points out, helped GM to receive these corporate taxes last year), said: "I am deeply frustrated by General Motors' decision. "

Democratic Representative Joe Kennedy III Tweeted :