Opinion: GM should find a way to grow its profits that also benefits the American worker
General Motors has announced that the company is going to lay off 15 percent of its salaried workers and stop production in 5 of its factories throughout North America.
Since the announcement, President Trump has gone as far as to threaten to remove tax credits for the company’s fleet of electric vehicles and to take other actions to remove federal subsidies that GM may currently enjoy.
Let’s not forget that the 2009 bailout of car companies by the American taxpayer is the reason that GM exists today. Cutting American jobs is not exactly a great way for General Motors to pay our people back or to give thanks.
The president has asked congress to consider slapping tariffs on more vehicles which come into the country in order to bring more jobs to the United States.
But most importantly, the president asked general motors to bring a significant portion of its production from abroad back to the United States to make up for the recent cuts.
Gm is a private company and it has the right to make business decisions as it see fit. However, General Motors did receive a lot of help from the federal government and from the American people, and with that help comes responsibility.
Here’s the bottom line: At the end of the day, the market is going to determine whether GM’s decision was a good one or not. In this booming economy, let’s hope that General Motors finds a way to grow its profits while also benefitting the American worker.
EDITOR'S NOTE: Boris Epshteyn formerly served as a Senior Advisor to the Trump Campaign and served in the White House as Special Assistant to The President and Assistant Communications Director for Surrogate Operations.