ALG responds to Ener1 bankruptcy

Jan. 26, 2012, Fairfax, VA—Americans for Limited Government President Bill Wilson today in a statement responded to the bankruptcy of yet another "green" energy company that had received taxpayer money, Ener1:

"As early as 2008, an investment advisory firm Citron Research had issued dire warnings about Ener1, saying the company was 'just a corporate shell company with a long history of failed businesses based on exaggerated promises', citing the company's long and shady history.  When it was proposed that the 'stimulus' be used to give $118.5 million to Ener1, Americans for Limited Government worked with media to help expose this bogus firm for what it was.  Predictably, it turns out those warnings were correct, unfortunately for taxpayers."

Attachments:

Citron Reports on Ener1, July 16, 2008 at http://www.citronresearch.com/index.php/2008/07/16/citron-reports-on-ener1-amexhev/

Fed money may benefit Russian-backed firm, by Jerry Seper, Washington Times, July 5, 2009 at http://www.washingtontimes.com/news/2009/jul/5/us-tax-dollars-may-aid-russian-earmark-eyed/print/

Obama sends stimulus aid to foreign firms, by Jerry Seper, Washington Times, Aug. 6, 2009 at http://www.washingtontimes.com/news/2009/aug/06/stimulus-to-aid-foreign-battery-builders/print/

Interview Availability: Please contact Rebekah Rast at (703) 383-0880 or at rrast@getliberty.org to arrange an interview with ALG President Bill Wilson.

NH House Leaders Respond to Bankruptcy Filings Hitting a Three Year Low

CONCORD – The number of New Hampshire bankruptcies was down to 338 in November, 31 fewer than October and 90 fewer than November of 2010.  The November decline brings the total year to date filings to nearly 17 percent fewer than this time last year and about even with numbers at this time in 2008.  Furthermore, there were only three business bankruptcies in November, down five from October.  In response to the positive news, House Speaker William O’Brien and House Ways and Means Chairman Stephen Stepanek today released the following statement.

House Speaker William O’Brien

“Job growth and improving our economy are our top concerns this legislative session, so it is a great sign that fewer individuals and employers need to file for bankruptcy. We will continue to work vigorously in the 2012 session to ensure that we are doing all we can in the legislature to help to develop and environment to grow and create good, new, sustainable, private-sector jobs.   This session alone the House cut 12 taxes and fees and passed 43 bills to lessen the regulatory burden on New Hampshire employers and the House will maintain our focus to do the same next year.  While the smaller number of bankruptcies is a great sign for our economy, there is still a tremendous amount of work to do to make New Hampshire the magnet for job growth it deserves to be.”

House Ways and Means Chairman Stephen Stepanek

“Because of the continued effort by the legislature to reduce taxes and fees and, most importantly, reduce regulations on our business community, we are already seeing the fruits of our labor. As we continue along this path of economic vitality we should see not only a reduction in bankruptcy filings but also an increase in private sector jobs and new businesses forming or migrating to New Hampshire.”

NH GOP - One Year Later: Republican Leadership Pulled New Hampshire Away from the Fiscal Brink

Concord, NH – Exactly one year ago today, on December 1, 2010, Republicans took control of the New Hampshire House and Senate.  The day they started, they faced a bleak fiscal mess left by four years of spendthrift Democrat rule.  This reality included a budget deficit of nearly $900 million, an economy that had been ravaged by over 100 new taxes and fees, tens of millions of dollars in borrowed money to pay for operating costs and huge property tax increases.

Over the past year, Republican leadership has begun turning around the state’s fiscal picture.  During this past year, the lawmakers have:

• Passed a fiscally responsible, balanced budget that did not increase taxes or fees, does not downshift onto local property taxpayers, and does not increase borrowing;
• Did not increase taxes or fees, and even reduced or eliminated 12 taxes and fees, including the immensely unpopular car registration surcharge;
• Passed 43 laws that reduced regulations;
• Began reforming the state pension system to ensure that retirees will continue to get benefits without bankrupting taxpayers; and
• Overhauled the state budget system to ensure that state agencies now submit budgets that make reductions, not just one to grow government.

New Hampshire Republican State Committee Chairman Wayne MacDonald commented on these achievements by saying, “When Republicans took over last year, the state was facing the wreckage of Democrats’ failed leadership of higher taxes, borrowing from our children and grandchildren, and accounting gimmicks to hide the true cost of their out-of-control spending.  Granite Staters should know that their tax dollars are in good hands with Speaker Bill O’Brien and Senate President Peter Bragdon watching the state’s fiscal future.”

CEI Daily - Free Trade Agreements, USPS, and the CEI Podcast

Free Trade Agreements

Congress reportedly intends to move forward on several pending free trade agreements.

Research Associate Nick DeLong comments.

"For quite some time, CEI has been critical of Congress and the White House’s failure to support the long standing FTAs without the inclusion of TAA. While it’s good to see that TAA won’t be tied directly to any one FTA, it’s disappointing to note that the approval of TAA has essentially become a pre-condition to their endorsement. As CEI has mentioned several times before, free trade agreements should be voted up or down based upon their own merits."

USPS According to some members of Congress, the United States Postal Service needs a $100 billion stimulus. Research Associate Trey Kovacs comments. "USPS has hit the brink of insolvency. USPS discontinued its contractual obligations to contribute to the Federal Employees Retirement System, citing their $8.51 billion deficit last year. This legally questionable action by USPS is not a solution to their fiscal crisis and only saves revenue in the short term. USPS projected annual losses and deficits in the near future are astounding, by 2020 USPS will incur annual losses of $33 billion by 2020 and projected deficits of $8.3 and $8.5 billion in the upcoming years. Considering this data, the Postal Service has called on Congress to act to alleviate their financial constraints."

 

 

CEI Podcast

 

In the most recent CEI Podcast, Fellow in Regulatory Studies Ryan Young talks to Adjunct Scholar Fran Smith. Listen here.

 

NRN - Must Reads from April 12, 2011

• GOP should negotiate on 2012 budget from strength
• Default a big lie if debt ceiling not raised
• Veronique de Rugy: A bankrupt option
• Sowell: Another spending cut plan
• Byron York: The liberals' plan–gut defense and tax, tax, tax
• Congress has become the least dangerous branch…
• House GOP unveils trillion dollar spending plan
• The IRS running amok: Forcing America's banks to comply with foreign tax law
• The case against government subsidies for public broadcasting
• The public school ban on homemade lunches
• Government by waiver
• Fix public campaign financing by eliminating it
• The green jobs myth

Read more at NetRightDaily.com.