The return of the corporate welfare state

Published June 25, 2021 3:00am ET



No one is paying much attention, but Washington is building up a vast, multitrillion-dollar welfare class: corporate America.

Deep inside President Joe Biden’s budget plans are hundreds of billions of dollars of handouts, loans, grants, and loan guarantees for corporate America. This Aid to Dependent Corporations is most prevalent in the area of renewable energy. Despite more than $100 billion already doled out to wind and solar companies over the past 30 years, the Biden plan would enrich investors, who are often very wealthy, in solar and wind plants with another $100 billion to $200 billion in the president’s green energy scheme.

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