Economy

TRUMP STRIKES BACK: The President Considers ‘Cutting’ All GM Subsidies over Closures

posted by Hannity Staff - 11.27.18

President Trump slammed General Motors Tuesday after the automobile manufacturer announced their plans to reduce 15% of its American workforce; saying his administration would consider “cutting all subsidies” to the carmaker.

“Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland. Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get! We are now looking at cutting all @GM subsidies, including electric cars. General Motors made a big China bet years ago when they built plants there (and in Mexico) – don’t think that bet is going to pay off. I am here to protect America’s Workers!” Trump tweeted.

News of the President’s threat caused GM’s shares to plunge more than 3.5% Tuesday, in what will likely be the company’s worst day in over a month.

HARRISCARE? Sen. Harris Calls for Government Subsidies to PAY RENT Across the US

posted by Hannity Staff - 7.23.18

Firebrand Senator and potential 2020 hopeful Kamala Harris unveiled her plan Monday to drastically increase tax credits to help subsidize those who are unable to pay their rent, according to the Washington Post.

The new scheme -set to be officially announced Thursday- would allocate over $13.3 million in federal subsidies to provide tax credits to help certain families pay their housing costs.

“There’s much more interest now among Democratic lawmakers and representatives in high-cost areas about housing policy as more and more places fall into the high-cost bucket,” said one housing expert from the Brookings Institute.

The new program would allocate tax credits to those earning less than $100,000 a year and spend more than 30% of their net income on living expenses.

Harris’ proposal comes days after other liberal politicians -including former President Barack Obama and Mayor of Chicago Rahm Emanuel- praised a potential “universal basic income” for America’s poor.

Read the full report at the Washington Post.

BAD APPLES: Cuomo, De Blasio UNDER FIRE for $1.5 BILLION in Amazon Kickbacks

posted by Hannity Staff - 11.14.18

Governor Andrew Cuomo and New York City Mayor Bill de Blasio found themselves in hot-water this week with Big Apple residents “furious” after they discovered the two leaders agreed to $1.5 billion in taxpayer subsidies for Amazon’s new headquarters in the borough of Queens.

The prominent Democrats were accused of an “immoral waste of taxpayers’ money” as a growing number of constituents griped over the massive kickbacks as the city’s infrastructure continues to age and crumble.

“I think if the takeaway from the recent election in Queens, New York City and nationally is that we should actually step up corporate subsidies and billionaires getting billion-dollar bailouts — if that’s the takeaway, somebody’s not got their fingers on the pulse of Democrats, certainly, but people generally in this country,” New York City council member Jimmy Van Bramer.

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