My Latest

Wednesday, March 4, 2009

Obama’s hidden bailout of General Electric

Are climate change laws a bailout for GE? My Examiner column follows the money trail.
While many companies hire lobbyists to win earmarks, General Electric’s unmatched lobbying force has secured a tax increase — or its equivalent — in President Barack Obama’s budget.

Labeled “climate revenues” and totaling $646 billion over eight years, this line item in Obama’s budget has inspired confidence in GE Chief Executive Officer Jeff Immelt. As Immelt put it in a letter this week, he believes that the Obama administration will be a profitable “financier” and “key partner.”

Read the whole thing here.

No comments: