Donald Trump might pull the plug on electric car credits in wake of GM layoffs
President Trump threatened Tuesday to cut off federal subsidies for General Motors in response to the automaker’s decision to shut down production at plants in Ohio and Michigan.
A day after GM announced the closings and layoffs of up to 14,000 workers in North America, the president and top White House economic adviser Larry Kudlow said the administration was considering punishment for the automaker, which received billions of dollars in a taxpayer bailout in 2008 and a hefty corporate tax cut this year.
“There’s a lot of disappointment, even anger,” Mr. Kudlow told reporters in the White House press room. “We are going to be looking at certain subsidies regarding electric cars and others, whether they should apply or not. That reflects the president’s own disappointment.”