Need to Know
January 21, 2013 4:30 AM
House Cmte finds stimulus cash flowing to foreign companies
Posted by Staff
The Free Beacon reports:

The House Energy and Commerce Committee released a report Thursday that shows much of the money in a Department of Energy renewable-energy grant program has gone to foreign companies and has failed to produce many jobs.

“American Taxpayer Investment, Foreign Corporation Benefit” examined the grants the Department of Energy has awarded through its “Section 1603” green-energy grant program.

“Nearly one-quarter of this federal grant funding went to the U.S. operations of a handful of large European and Asian renewable energy corporations,” the report said.

The report also noted the lack of job growth: “The Section 1603 grant program has not been a dependable agent of long-term job creation.”
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