Return On Investment: Kochs Demand New Republican Majority Kill Wind Tax Credit

November 7, 2014

The Koch brothers are fresh off their nearly $300 million campaign to boost Republicans in this year’s midterm elections, and we’re already starting to see the kinds of favors they expect as a return on their investment.

Just days after the election, the Koch brothers’ Americans For Prosperity and other Koch-funded groups are leading a coalition demanding that Republicans in Congress let the wind production tax credit (PTC) expire. The PTC for wind is a popular incentive that has been crucial to the wind energy industry as it has boomed in recent years, providing more affordable energy, supporting thousands of new jobs, and protecting our environment. It was created in 1992 under President George H. W. Bush, and has been repeatedly renewed by both Democrats and Republicans since then.

But the self-interested billionaire Koch brothers don’t care about any of those things. They care about continuing to grow their massive fortune accumulated through their Big Oil conglomerate Koch Industries, no matter the cost to others. And coincidentally enough, the Koch brothers just so happen to have recently purchased a slew of seats for Republican members of Congress, and helped catapult soon-to-be Majority Leader Mitch McConnell to his long-sought-after dream job.

So there you see the dangerous feedback loop the Koch brothers have created. It’s not simply that they are willing to pour infinite money into rigging our democracy. It’s that in turn, Republican legislators are beholden to the Kochs’ self-serving agenda — an agenda that comes at the expense of working families and a healthy environment.

Paid for by American Bridge 21st Century Foundation