GM-Chrysler Merger Would Hurt State Budget
The automotive industry has been smoldered by different types of scorching pandemonium in the past six years - plant closures, job cuts, ailing automaker"s reputation and vanishing confidences. Moreover, the state"s famished financial system is expected to be significantly hurt by the predicted GM-Chrysler merger. State officials also expect that job losses and plant closures would continue to increase. This could trigger the decline in income and property tax collectibles and business tax revenues. "Clearly, it's going to have a negative impact losing all those high-paying jobs, " said state Treasurer Robert Kleine. ...
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