President Joe Biden’s $2 trillion-plus spending spree he calls an “infrastructure” plan is mainly a scheme to boost the ranks of Democratic-donor unions and send sacks of cash to all levels of government. But there’s some corporate welfare, too, aimed at Democrat-friendly business interests.
The aim, as it always is for the left, is to tell the rest of us how to live. So electric-vehicle (or EV) and clean-energy companies are poised to get hundreds of billions. The plan sets aside $174 billion for EVs via direct payments to automakers, tax incentives for (mostly high-earning) buyers and building 500,000 charging stations to make them (somewhat) practical to use.
Hmm: The feds never had to create gas stations across America — with high demand for liberating transportation, the market did the job on its own.
Biden’s plan to convert the federal fleet to electric, meanwhile, is a huge boon for an industry that’s made few inroads with the public, which even with subsidies opts for EVs in only about 2 percent of new purchases. Why should Tesla, Volkswagen, General Motors and other big companies get taxpayer money to develop something taxpayers aren’t interested in?
Biden also wants $100 billion for clean-energy subsidies to electric utilities — even as he’d make clean energy more expensive: US industry gets many of its offshore wind components from Europe and its solar panels from Asia, but Biden wants to get them made here, markedly hiking costs, especially since he’d require all workers to be hired at union wages.
He’d also throw $230 billion at the construction industry, though it’s bouncing back far stronger than most from the COVID recession.
Big businesses already invest $50 billion a year in broadband, but Biden wants to throw another $100 billion at the industry — except for the wireless part of it. Biden’s plan would “force the deployment of fiber instead of more cost-effective modes,” says analyst Robert Kaminski. His other cherry-picking plans include efforts to target as much money as possible to female- and minority-owned businesses.
We all know how good the government is at picking winners and losers. Remember Solyndra? The green-energy startup got more than $530 million in Obama stimulus money before filing for bankruptcy. Biden seems intent on creating many more such disasters, just as Americans work hard to recover from the pandemic.
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