As if there needs to be any more evidence, the release of the largest beneficiaries of North Carolina’s $245 million worth of ‘renewable’ energy tax credits last year shows that such government schemes are about helping corporate cronies, not the environment.
Blue Cross and Blue Shield, the state’s largest health insurer, claimed $37 million in 2016, the biggest renewable tax credit user for the year. Duke Energy Corp. claimed $23.9 million and Progress Energy (since renamed Duke Energy Progress) $7.5 million. Wells Fargo Bank claimed $13.2 million, the N.C. Farm Bureau Mutual Insurance Company $9.3 million and Bank of America $7.7 million.
The largest individual claim came from Strata Solar CEO Markus Wilhelm, who claimed $4.8 million.
Much further down the list was iPhone maker Apple, which operates data centers in the state, which claimed $1.7 million.
O’Hara said that insurance companies and other corporate beneficiaries are typically investors in solar farms, and can claim the tax credit because they are the ones who finance the undertaking.
Strangely enough, the two largest recipients of corporate welfare also happen to be sponsors of the upcoming Conservative “Leadership” Conference. You know, the event where some “lucky” individuals get to meet the likes of Nigel Farage and convicted felon James O’Keefe.
Here’s a word of advice, stop describing many of your upcoming speakers as coming form “non-partisan” organizations when that CLEARLY isn’t the case. I understand asking Civitas to be a little more truthful is asking a lot.