Joe Biden has a massive slush fund to dole out money to politically favored industries.
But one use of taxpayer money is raising eyebrows.
And Joe Biden is in hot water after a Chinese executive revealed this infuriating taxpayer handout.
President Joe Biden has funneled hundreds of billions of dollars toward green energy projects.
The wildly misnamed $1.2 trillion Inflation Reduction Act, a trojan horse for Green New Deal policies, created a massive slush fund for the Biden regime to fund pet projects.
An executive of an electric vehicle (EV) battery company with deep ties to the Chinese Communist Party (CCP) confirmed in an interview with CNBC that his firm was eligible for a taxpayer handout.
Gotion High-Tech Executive Vice President Qian Cheng made the claim on the financial network at the same time Republicans are calling for the Treasury Department Committee on Foreign Investment in the United States (CFIUS) to investigate the company over its CCP connection.
“Can you confirm whether you are going to be under a CFIUS review, a security review?” a CNBC host asked Cheng. “Are you eligible for taxpayer funding and eligible for Inflation Reduction Act incentives?”
“Yes,” Cheng said about his company’s eligibility for Inflation Reduction Act handouts.
Cheng said that Gotion was eligible for taxpayer subsidies and had begun work with the Democrat-controlled states of Illinois and Michigan on building battery factories there.
“We are pretty confident (in) our activities in the U.S.,” Cheng added.
Chinese company poised to receive taxpayer windfall
Gotion could receive up to $7 billion in taxpayer money from the Inflation Reduction Act if the company hits certain production goals at its battery plant in Manteno, Illinois, according to a report by Good Jobs First.
“This is the latest example of the People’s Republic of China-based and CCP-tied Gotion using every mechanism they can find to evade CFIUS,” Joseph Cella and Peter Hoekstra of the Michigan-China Economic and Security Review Group told the Daily Caller News Foundation. “And this instance, it is a flagrant attempt through a carveout to dodge strict scrutiny and a thorough review via a Full Voluntary Notice.”
CFIUS is a government review designed to determine if foreign companies investing in the U.S. pose a national security risk.
Gotion’s links to the CCP are raising numerous red flags about funneling billions of dollars in taxpayer money to the company.
The company registered with the Justice Department as a Chinese foreign principal.
The proposed battery plant in Illinois would be in close proximity to two military bases in the state, which could open the door for a potential espionage operation.
Chinese intelligence is known to use businesses as a cover for their covert operations.
Gotion’s CEO Li Zhen is an active member of the CCP, along with more than 900 employees of the company.
In 2016, Gotion established a joint venture with a Chinese company identified by the State Department as a “Communist Chinese Military Company Subsidiary.”
The green energy industry is dominated by Chinese companies with connections to the CCP.
And Joe Biden is using taxpayer money to line the pockets of companies from a hostile foreign country.