Panasonic is expected to invest some $4 billion in a new De Soto battery plant, but it could receive twice that amount in taxpayer incentives. The Japanese electronics giant is poised to get as much as $6.8 billion from provisions in last year’s federal Inflation Reduction Act. That’s according to incentive watchdog group Good Jobs First, which analyzed the potential windfalls five electric vehicle battery plants could receive from a new tax credit program. Good Jobs First says the 45X Advanced Manufacturing Tax Credit, which aims at increasing production of electric vehicles, could cost American taxpayers $200 billion over the next decade — far higher than previous estimates. State and local taxpayers have already heavily subsidized Panasonic’s battery plant, which crews are currently building on a portion of the former Sunflower Army Ammunition Plant.
Source: Kansas City Star
