Do you want your tax money boosting China’s economy? It could happen … soon.
Republican senators are sounding the alarm after reports that a Chinese firm was bidding for a major stake in taxpayer-backed U.S. car company Fisker Automotive.
Your tax dollars backed Fisker Automotive in 2010 when the Energy Department loaned the financially-strapped car company almost $530 million dollars. Now the troubled electric car maker is looking for a new financial partner – and at least two Chinese companies are in the running.
Senators John Thune and Chuck Grassley are raising concern that Chinese companies are benefiting from your investments, with Thune saying, “Obama’s green energy investments seem to be nothing more than venture capital for eventual Chinese acquisitions.” Despite the report, Fisker insists the bidding process is still open.
What do you think? Are you worried about China’s economy benefiting from your tax dollars? Sound off and tell us what you think!