Double Standard: Critics of Big Three Loan Subsidize Foreign Competitors
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When Senate Republicans blocked the $14 billion emergency bridge loan needed to keep the nation’s auto industry operating, they knew it could cost between 3 million and 5 million jobs. But some of the most vociferous critics of the auto industry and the UAW reside in states that have given huge no-strings-attached subsidies to foreign auto plants. Some of those states even owe their very survival in part to the Big Three auto companies.
Good Jobs First reports that foreign-owned auto companies operating in the United States have received $3.6 billion in subsidies, mostly from southern “right to work” for less states. That amount doesn’t even count joint ventures with U.S. companies or include inflation, which would make the figures even higher in today’s dollars.
