Ending Green Tax Incentives and Cronyism

Wonder where Nevada lame-duck Senator Harry Reid fits into all this cash being tossed around?

Between SolarCity, Tesla Motors Inc., and the rocket company SpaceX, Elon Musk’s interests has gotten at least $4.9 billion in taxpayer support over the past 10 years. Now, the Senate Finance Committee and the House Ways and Means Committee have launched a probe into the tax incentives paid to SolarCity, which is set to be purchased by Tesla.

In 2013, SolarCity received $127.4 million in federal grants. The following year, in which it received only $342,000 from the same stimulus package, total revenue was just $176 million and the company posted a net loss of $375 million.

As an aside, Musk’s cousins, Lyndon and Peter Rive operate SolarCity. With such shady goings-on between family members — a favorite Harry Reid feature — it isn’t hard to believe that the soon-to-be-gone Senator is somehow benefiting from the arrangement.

Advertisements
Ending Green Tax Incentives and Cronyism

Let me know what you think...

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s