Giant_photovoltaic_arrayCompanies collecting billions in no-questions-asked “green” welfare are funneling cash into Democrat campaigns

Under Obama’s “green economy” plan, crony capitalists can pocket billions in tax credits without having to prove they’re doing anything.

In the latest example of just how big a scam Obama’s green initiatives really are, a new Government Accountability Office (GAO)report find the Obama IRS gave out so much in “green” tax subsidies it “accounted for an estimated $13.7 billion in forgone revenue to the federal government for renewable projects and $1.4 billion for traditional projects” between 2004 and 2013.

The kicker?  None of the recipients had to provide any proof they were eligible for the Obama cash.

Under Obama’s plan the IRS “is not required to collect project level data from all taxpayers” who claim an Investment Tax Credit (ITC) or Production Tax Credit (PTC).

The ITC and PTC are government programs that hand cash to companies that claim they are producing wind and solar energy.

“IRS officials stated that IRS is unlikely to collect additional data on these tax credits unless it is directed to do so,” the GAO reports. “Since 1994, GAO has encouraged greater scrutiny of tax expenditures, including data collection. Without project-level data on the ITC and PTC, Congress cannot evaluate their effectiveness as it considers whether to reauthorize or extend them.”

Obama is giving away billions in unaccountable handouts because wind and solar projects would fail without welfare.

Power from wind and solar is so expensive, “for the solar project with the lower ITC, we found that the electricity prices in PPAs (Power Purchase Agreements) would need to increase by 20 to 27 percent if developers were to maintain their returns,” GAO said. “For wind projects without the PTC, we found that electricity prices would need to increase by 32 to 62 percent if developers were to maintain their returns.”

Democrats have been handsomely rewarded for their generosity with tax dollars.  The “alternative energy” industry, which exists only because it rakes in tens of billions of dollars in welfare, gave away over $2.3 million in contributions to political candidates in the 2014 election.  Most of it went to Democrats.

They’re literally funding candidates with profits given to them by…those same candidates.

It appears the only thing Obama is recycling is tax dollars into campaign dollars.

Even Obama-funded companies on the brink of collapse poured their ill-gotten cash into keeping the welfare pipeline open.

“Between January 2009 and June 2011, when it shuttered its federal lobbying operation, Solyndra spent $1.09 million on lobbying, according to research by the Center for Responsive Politics,” Open Secrets reports.

“At the same time, many Solyndra executives and employees were opening up their checkbooks to make political donations. Additionally, iWatch News reported that Oklahoma billionaire George Kaiser, who bundled between $50,000 and $100,000 for Obama’s 2008 campaign, was one of Solyndra’s lead investors,” reports Open Secrets.

Who got the most of that cash?  The man giving away “green” cash with no questions asked, Barack Obama.