The fact GM is shifting production to Mexico is not just for labor costs, missing in the media

[lostnfound]

2. GOP tax bill cut taxes on foreign production, driving US plant closures

I heard Sherrod ?Brown discuss it, something about tax cuts being related to GM plant closures. I found this:

The corporate rate on both US and foreign profits used to be 35% (although tax breaks regularly reduced the actual tax rate companies would pay). Starting this year, however, the US corporate tax rate on domestic profits is 21%, while the foreign tax rate is just 10.5%. Not only that, they also get to subtract foreign taxes paid from what they have to pay the US government. So if they pay more than 10.5% to a foreign government, they will pay no US taxes at all on their foreign profits. It’s estimated the corporate tax reduction alone will cost $1.3 trillion over the next decade, and encourage corporations to focus on overseas production in order to avoid American taxes.
https://patrioticmillionaires.org/2018/11/30/gm-layoffs-result-of-trump-tax-plan/