Biden Administration To Unleash A $27 Billion Green Slush Fund

Biden Administration To Unleash A $27 Billion Green Slush Fund

Biden slush fund money is now looking for a home

By Mike Shedlock via MishTalk.com

Biden slush fund money is now looking for a home. A battle is on over who gets to waste it…

Biden’s $27 Billion Clean Energy Catalyzer Slush Fund

Competition is stiff over who gets first access to Biden’s $27 Billion Clean Energy Catalyzer slush fund.

The US government is getting ready to unleash $27 billion to fund projects in disadvantaged communities that cut greenhouse gas emissions and boost clean energy. The cash infusion from last year’s sweeping climate and tax law is meant to drive the deployment of solar panels, heat pumps and electric vehicles in underserved places around the nation.

But even before the government formally seeks funding applications, hundreds of potential recipients are jockeying for the money. The competition pits credit unions and community development institutions against a national not-for-profit organization that says it should collect much of the haul and be a clearinghouse for the taxpayer dollars, making it the first-ever US-government-minted green bank. 

At stake is the fate of an unprecedented effort by the US government to fight climate pollution and environmental injustice at the same time. 

States and tribes are set to get $7 billion. The remaining $20 billion is available for “eligible” nonprofits to provide financial assistance to national, regional, state and local projects, with at least 40% of the funding put to work in low-income and disadvantaged communities.

The law offers little guidance on who those eligible recipients might be. 

The Coalition for Green Capital, a nonprofit that supports regional green banks, argues it should be the main repository for the $20 billion, making it a nationwide clearinghouse for the funding. 

The money “will not reach low-income and disadvantaged communities unless funding is provided to financial institutions with specialized expertise in serving them,” said the Rural Community Assistance Corporation, which supports organizations serving low-income people living in the rural West.

Environmental Justice Now

This “green bank” meme is so much BS I hardly know where to begin.

At least half of this money is sure to go to obviously absurd boondoggles. Most of the rest will be wasted in ordinary graft.

We don’t know who the recipients are yet, but fancy names are sure to help.

I have come up with perhaps the perfect name for a company competing for slush money: Green Solutions Trust Fund 

In practice, it will not be green. It certainly will not solve anything. And if there is any trust, it will be seriously misplaced.

*********

(TLB) published this article by  Mike Shedlock via MishTalk with our appreciation for this perspective

Like what you read? Subscribe to MishTalk Email Alerts.

Header featured image (edited) credit: ECO not Ego graphic/orginal Shedlock article

Emphasis added by (TLB) editors

••••

••••

Stay tuned to …

••••

The Liberty Beacon Project is now expanding at a near exponential rate, and for this we are grateful and excited! But we must also be practical. For 7 years we have not asked for any donations, and have built this project with our own funds as we grew. We are now experiencing ever increasing growing pains due to the large number of websites and projects we represent. So we have just installed donation buttons on our websites and ask that you consider this when you visit them. Nothing is too small. We thank you for all your support and your considerations … (TLB)

••••

Comment Policy: As a privately owned web site, we reserve the right to remove comments that contain spam, advertising, vulgarity, threats of violence, racism, or personal/abusive attacks on other users. This also applies to trolling, the use of more than one alias, or just intentional mischief. Enforcement of this policy is at the discretion of this websites administrators. Repeat offenders may be blocked or permanently banned without prior warning.

••••

Disclaimer: TLB websites contain copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available to our readers under the provisions of “fair use” in an effort to advance a better understanding of political, health, economic and social issues. The material on this site is distributed without profit to those who have expressed a prior interest in receiving it for research and educational purposes. If you wish to use copyrighted material for purposes other than “fair use” you must request permission from the copyright owner.

••••

Disclaimer: The information and opinions shared are for informational purposes only including, but not limited to, text, graphics, images and other material are not intended as medical advice or instruction. Nothing mentioned is intended to be a substitute for professional medical advice, diagnosis or treatment.