Business Rundown: Biden’s Billions To Rivian

Last week the Biden administration announced the Department of Energy will give a federal loan of $6.6 billion to electric vehicle maker Rivian to build a new factory. 

Critics of this move say it is more wasteful spending that could be seen as a political shot at Tesla CEO and Trump ally, Elon Musk.

Co-anchor of ‘The Big Money Show’ Taylor Riggs speaks with the founder and CEO of Island Capital Investments about why loaning money to Rivian may not be a good business move and how the Department of Government Efficiency might rein in big spending moves like this.

Photo Credit: AP