"Biden’s Lesson From Past Green Stimulus Failures: Go Even Bigger" [1]
"As vice president, Joe Biden oversaw a “green jobs” stimulus package that produced notable failures. This time, with more money and more demand for clean technology, will be different, Democrats say."
"WASHINGTON — In September 2009, then-Vice President Joseph R. Biden Jr. traveled to a defunct General Motors plant near his hometown, Wilmington, Del., to announce a $528.7 million government loan for Fisker Automotive to make hybrid and electric vehicles.
The funding for Fisker, a small luxury automaker, came out of the American Recovery and Reinvestment Act, a $787 billion economic stimulus plan secured by President Barack Obama to lift the nation out of the Great Recession, in part by creating “green jobs” with $90 billion for wind and solar energy, a “smart” power grid, weatherized homes and the electric vehicle industry.
Fisker went bankrupt in 2013 before the Wilmington factory produced a single car. Mr. Biden also personally announced a $535 million loan guarantee for Solyndra, a California solar panel company that then went bankrupt, leaving taxpayers on the hook. An advanced battery maker called A123 Systems, which Mr. Obama extolled as part of a vanguard of a new American electric car industry, received a $249 million stimulus grant, then filed for bankruptcy in 2012, the vanguard that wasn’t."
Coral Davenport reports for the New York Times March 29, 2021. [2]
SEE ALSO:
"Coal Country Races to Shield Itself From Biden’s Climate Plan" (Bloomberg Green) [4]
"Democrats Look to Smooth the Way for Biden’s Infrastructure Plan" (New York Times) [5]
"Biden Wants Infrastructure Package Approved Over Summer" (AP) [6]
"Biden To Lay Out First Piece Of Sweeping Infrastructure And Jobs Package Wednesday" (CNN) [7]
"Biden To Propose Two-Pronged Infrastructure Package" (CBS News) [8]