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Resource ID: #25649
Subject: Taxes
Source: CBS News
Affiliation: 
Date: 01/13/12; 06/02/12; 06/17/12; 08/18/12

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Description

In this series of original and exclusive investigations, CBS documented the fate of $90 billion dollars in green energy stimulus tax spending and dug in to find out why it did not produced the promised results: a boom in green energy technology and products accompanied by a burst in employment. In Solar Scorching, we identified eleven green energy companies besides Solyndra that together got billions of tax dollars, only to declare bankruptcy or suffer other serious financial issues. Since our initial report, the number of failures has risen dramatically. CBS exposed the fact that the government secretly knew what a poor investment some of these companies were, even before it committed taxpayer billions. We obtained exclusive documents showing one project had confidentially been rated as a “junk bond,” but the government committed $43 million tax dollars anyway. It went bankrupt.

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