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Gotion’s nearly $4.4bn collective investment in Michigan and Illinois has spawned the No Official Giveaways Of Taxpayers’ Income to Oppressive Nations Act — or ‘No Gotion Act’ for short. This would prohibit CCP-affiliated companies from receiving green energy tax credits under the federal Inflation Reduction Act. Iran, North Korea and Russia also would be prohibited under the act. A co-sponsor of the No Gotion Act, Darin LaHood, a Republican Representative from Illinois, says in a statement that foreign adversaries who have launched “malign efforts” to undermine domestic supply chains and national security should not be rewarded with tax credits for the production of green energy.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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