Article

2023-04-23 Government Corruption

Big Banks, Corporations Getting 90 Percent Of Biden's Green Energy Credits: Congressional Study

[ZERO] Most of the green energy tax benefits provided by President Joe Biden’s $750 billion Inflation Reduction Act (IRA) of 2022 are going into the coffers of big banks and billion-dollar corporations, according to House Ways and Means Committee Chairman Jason Smith (R-Mo.).

"While President Biden’s supercharged IRS is warming up to target working Americans, his administration is getting ready to spend those tax dollars to subsidize special interest green energy projects of billion-dollar companies," Smith said in a statement based on a new congressional analysis issued by the Joint Committee on Taxation (JCT).

Smith was referring to the Biden administration’s controversial plan to double the size of the IRS workforce by adding 87,000 new tax investigators and auditors. House Republicans want to defund the IRS expansion plan.

"Many of the same companies getting a green corporate welfare check have shed their American identity to do business with the Chinese Communist Party (CCP), and, as a result, our tax dollars are being funneled to Chinese entities that manipulate our key supply chains," Smith continued.

"While House Republicans are fighting for working families struggling to pay their gasoline and utility bills, House Democrats are prioritizing foreign nations and sending as many taxpayer-funded handouts to corporations as possible. With big banks pocketing three times more of these special interest tax breaks than any other industry, it’s clear Democrats are rewarding their friends on Wall Street that push their partisan ESG agenda," the Missouri Republican said.

The JCT includes members from both the Senate and House of Representatives, and the chairmanship and vice chairmanship positions are rotated between the two chambers from one Congress to the next. Smith is the chairman this year, while Sen. Ron Wyden (D-Ore.), the most senior senator on the panel, is the vice chairman.

Posted by Besoeker 2023-04-23 09:21|| || Front Page|| [11142 views ] Top

#1 I am surprised that no one has pointed out that 90% is the right number for big banks and corporations so that 10% can go to the Big Guy.

Posted by Tom 2023-04-23 15:47|| 2023-04-23 15:47|| Front Page Top

#2 Carbon copy under Obama, but funny how multiple green companies that got gov't handouts failed. Your tax dollars--POOF! That is what happens then gov't takes sides when doling out money: green companies, airlines, auto bailouts--no matter.

Posted by DooDahMan 2023-04-23 16:37|| 2023-04-23 16:37|| Front Page Top

#3 DDMan,

Those doleouts inevitably line the pockets of the pols and their grifting families and friends Especially the CCP friends.

Posted by AlanC 2023-04-23 17:46|| 2023-04-23 17:46|| Front Page Top

#4 No doubt, AC.

On a related note, I hope the full story of the Scam Bankrupt-Fraud (SBF) and FTX comes to light some day on how money was laundered (possibly via Ukraine) and to the DNC. And I still would not be surprised if that porcine punk ever sees a courtroom.

Posted by DooDahMan 2023-04-23 19:07|| 2023-04-23 19:07|| Front Page Top

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