Durbin and Ramaswamy trade barbs over federal loan to Rivian

Politics and Government Politics and Government

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[ Fri, Dec 06th 2024 ] - Crain's Chicago Business

Durbin and Ramaswamy trade barbs over federal loan to Rivian

^{Published on 2024-12-06 07:30:50 - Crain's Chicago Business}

As Elon Musk's cost-cutting partner takes aim at loans offered to Rivian and Stellantis, the Illinois senator calls out previous government loans to Tesla.

The article from Crain's Chicago Business discusses a public dispute between U.S. Senator Dick Durbin and entrepreneur Vivek Ramaswamy over a federal loan to Rivian, an electric vehicle startup. Ramaswamy, who has criticized the loan, suggested that the funds could be better used elsewhere, particularly in supporting small businesses. In response, Durbin defended the loan, emphasizing its role in fostering innovation and job creation in Illinois, where Rivian is building a manufacturing plant. Durbin highlighted the economic benefits, including the potential for thousands of jobs and significant investment in the local economy. The debate encapsulates broader discussions on government spending, economic development, and the role of federal loans in supporting new industries.

Read the Full Crain's Chicago Business Article at:
[ https://www.chicagobusiness.com/politics/durbin-and-ramaswamy-battle-over-federal-loan-rivian ]

N@N

Durbin and Ramaswamy trade barbs over federal loan to Rivian