Volkswagen could get up to $10 billion in IRA benefits if it decides to build a new battery factory in the US instead of Europe.
There is an old expression often heard in the halls of Congress that goes like this: “A billion here, a billion there. Pretty soon it begins to add up to real money!” The US Inflation Reduction Act is reversing the decades long trend of offshoring American jobs . The latest news regarding the IRA is that Volkswagen, one of the
There are always knock-on effects as well. If Volkswagen built battery factories in America, might it not also decide to build more electric cars in America, too? And wouldn’t building more cars in the US create even more jobs for American workers? That’s the funny thing about economics. Money attracts more money, creating an economic engine that brings prosperity, at least to those on the inside.
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