Quick reminder – Montgomery County Executive / “green energy” lobbyist Marc Elrich really likes corporate welfare. As long as it goes to the “right” industries”. Don’t be fooled by the redistribution rhetoric of the disheveled exec.
The self-acclaimed “sorta socialist” and frequent respondent to the MoCo “Democratic Socialists of America” questionnaire during election season sure approves of the federal and state governments above him doling out the people’s treasury to select money-making corporations.
How do we know? Because it turns out the biggest tax-dodgers in America, right now at least, are the wind and solar power companies under President Joe Biden’s so-called “Inflation Reduction Act” – and Elrich cheerleads this effort all the time. Just this week, he was crowing about MoCo’s Green Bank getting some sub-grant from the federals. He certainly doesn’t seem to be raging about the compensation being taken home by, for example, First Solar Inc’s executives.
Per tax policy expert Adam Michel at Cato.org:
It turns out that by far the biggest tax dodgers in the country are the wind and solar power industries. A new report by tax expert Adam Michel at the Cato Institute finds the green energy subsidies — mostly created by Biden policies like the so-called Inflation Reduction Act — will drain the Treasury of as much as $1.8 trillion over ten years.
That is a lot of moolah. Cheese. Scratch. All headed to one or two industries. From the people’s wallets, distributed to those manning corporations in a certain sector. Some then trickles down to local government, I suppose.
So yeah… Marc Elrich approves of corporate welfare, at least until we all see and hear otherwise.
More to come.
Related posts:
A Mere Five Months After Touting the “POWER” Act for Offshore Wind in Maryland, MoCo Politicians Prove To Be Poor Economic Forecasters
Wealth Transfer to the Wealthy: How CE Marc Elrich & MoCo’s State House Politicians are Fleecing Poorer Electric Rate Payers
On Top of Higher WSSC (Water) Rates, Higher Property Tax Rates, Montgomery County Residents Will See Electricity Rate Hikes Come October 1st