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Photo: Michael B. Thomas/Getty Images

General Motors announced plans to invest $1 billion to revamp its plant in Wentzville, Missouri, plus an additional $5oo million for supplier tooling and machinery, the Detroit Free Press reports.

Why it matters: This investment is part of GM's 2019 contract with the United Auto Workers union, in which the automaker promised to invest $7.7 billion in U.S. facilities and create or retain 9,000 jobs over the next four years, per the Free Press.

  • The investment will allow 4,000 manufacturing jobs to stay in the area, but won't add any new positions, the Free Press notes, per a company spokesman.
  • Missouri was competing with other states to keep and expand the plant, which will manufacture the Chevrolet Colorado and GMC Canyon. The Missouri legislature passed a bill allowing GM to receive up to $50 million in tax credits over 10 years if the company invests $750 million to expand the Wentzville plant. The company did not provide additional details on the tax credits.

Go deeper: Auto workers union reaches tentative deal with GM to end labor strike

Go deeper

4 mins ago - Politics & Policy

Senate Democrats target billionaires

Illustration: Annelise Capossela/Axios

After failing to get a deal on other planned tax increases, key Senate Democrats are pivoting to a billionaires' income tax to pay for President Biden's social spending.

The big picture: No advanced economy has attempted anything similar on such a scale.

Anti-abortion activists' Supreme Court dreams are coming true

Photo illustration: Annelise Capossela. Photos: Kevin Dietsch/Getty Images

This is the moment the conservative legal movement has been building toward for decades: The solidly conservative Supreme Court is about to hear two major abortion cases within a month of each other.

Why it matters: All of this is likely to end with significant new restrictions on abortion and a clear path for Republican-led states to win the next big abortion cases, too — the culmination of a long and bitter fight for control of the judiciary.

Felix Salmon, author of Capital
5 hours ago - Economy & Business

Trump's volatile return to the stock market

Expand chart
Data: YCharts; Chart: Axios Visuals 

Donald Trump this week became both a meme stock and a social-media entrepreneur at the same time, by announcing that a new company called Trump Media & Technology Group was going to merge with an existing company listed on the stock market.

Why it matters: The medium-term promise of Trump's media company is that it will replace Twitter for anybody wanting to keep track of Trump's messages. The short-term promise is that it can be a hot new speculative vehicle for people wanting to get rich quick in the stock market.