General Motors Co.’s plan to cancel production at U.S. factories and cut thousands of jobs drew a swift rebuke in the industrial heartland where President Donald Trump posted surprising electoral wins premised on his pledge to restore manufacturing.
Members of both parties criticized the move announced Nov. 26, citing the government aid the company has received in recent years, from the 2009 federal bailout of the auto industry to the $1.5 trillion tax cut that became law last December.
“The company reaped a massive tax break from last year’s GOP tax bill and failed to invest that money in American ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.