by Miles Dilworth at Daily Mail
- Democrats have hailed flagship green energy legislation for revitalizing the American renewables industry, but there are fears it is playing into China’s hands
- The scheme offers uncapped tax credits to firms investing in green energy, but does not block foreign companies from accessing the pot of US taxpayer money
- Data shared with DailyMail.com shows China is already involved in a dozen such projects, prompting warnings Beijing could profit from billions in US cash
Beijing could plunder more than $100billion from US taxpayer funding thanks to a ‘naïve’ plan by Joe Biden to boost the American renewable industry, DailyMail.com can reveal.
Exclusive industry data shows China has already planted its flag on a dozen green energy projects that could benefit from uncapped tax credits.
The scheme, which could cost the US taxpayer $1.2trillion overall, was designed to improve American competitiveness in sectors that China currently dominates, including solar and electric vehicles.
But experts are now warning it could in fact allow Chinese firms to ‘extend their global monopoly’ and ‘dominate’ the US market.
The issue has also divided once tight-knit communities across America as huge Chinese corporations land in their backyards, sparking environmental and security concerns…
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