Article Summary –
Vice President Kamala Harris has announced federal investments for small and medium-sized auto manufacturers in Michigan to either retool or expand their facilities. The Department of Energy has earmarked $50 million each for its Automotive Conversion Grants Program to help businesses transition from traditional vehicles to electric vehicles, and for businesses to increase efficiency, cybersecurity, and productivity. The investment is part of President Biden’s goal for 50% of new cars and light trucks sold in 2030 to be zero-emissions vehicles.
Vice President’s Visit to Detroit
Vice President Kamala Harris visited Detroit to disclose federal investments for small and medium-sized auto manufacturers in Michigan to develop their facilities.
Economic Opportunity Tour
Her speech at the Charles H. Wright Museum of African American History introduced the nationwide Economic Opportunity Tour. Harris emphasized the importance of maintaining auto supply chains in America, and hence, the American economy.
Transition to Electric Vehicles
The Department of Energy has allocated $50 million from the Automotive Conversion Grants Program, to assist the transition from traditional vehicle parts to electric vehicle supply chains. This is in line with President Joe Biden’s goal for 50% of new cars sold in 2030 to be zero-emission vehicles.
Upgradation of Facilities
An additional $50 million has been reserved for businesses to enhance facilities in terms of efficiency, cybersecurity, and productivity.
Job Growth in Auto Industry
The White House highlighted the addition of 250,000 jobs in the auto sector since 2021. The administration underscored agreements between unions and the Big Three Michigan-based automakers to ensure future job benefits.
Administration’s Approach to Economic Issues
Harris contrasted the administration’s economic approach with former President Donald Trump’s, who focused on tax cuts for the wealthy.
Public Funds for Economic Growth
Under Biden, laws like the American Rescue Plan, the Infrastructure Investment and Jobs Act, the CHIPS and Science Act, and the Inflation Reduction Act have prioritized public funds for U.S. facilities to stimulate economic growth.
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