Through lobbying, media, and public statements, the left-wing Center for American Progress (CAP) routinely used its influence to push for legislation that benefitted its major corporate donors, a Washington Free Beacon analysis has found.
Delta Air Lines launched a suit on Wednesday against the United States Export-Import Bank, alleging that the bank did not properly assess its impact on U.S. businesses when it financed purchases by foreign airlines, reported Bloomberg.
The chairman of First Solar, a company that received approximately $3.1 billion in federal loan guarantees under President Obama's green energy initiative, said Wednesday that the majority of the jobs created by the company have been overseas.
The Export-Import Bank of the United States (Ex-Im) is a little-known institution that has become a hot topic in Washington as Congress debates whether to extend its authorization and increase its lending capability. The bank is also a hotbed of crony capitalism—run by political donors for the benefit of political donors.
GOP members say the Energy Department cut corners to approve a $1.6 billion loan to an Arizona solar firm with ties to the Obama administration. The inquiry into loans to First Solar, which both makes solar panels and assembles solar facilities, is the latest accusation in Republicans’ long-running investigation into the Energy Department’s green energy loan program.
One of President’s Obama’s much-touted green energy projects, First Solar, received nearly $500 million in taxpayer-backed loans from the Export-Import Bank to subsidize the sale of solar panels to itself.