In an effort to stop the migration of many of the automobile manufacturing facil

Question

In an effort to stop the migration of many of the automobile manufacturing facilities from the Detroit area, Detroits city council is considering passing a law that would give investment tax credits to auto manufacturers. What this means is that it would reduce auto manufacturers costs of using capital and high tech equipment in their production processes. On the evening of the vote, local union officials voiced serious objections to the law. As a union official, outline the basis of your objection As a representative of one of the auto manufacturers, what are your counter arguments? at least 200 words

Explanation / Answer

Investment tax credits are the amount that businesses are allowed to deduct from their tax liability, reflecting it as an amount they will invest in themselves.

The major areas of objection of the tax credit by the union officials are:

Counter arguments of the auto manufacturers:

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