(Politico) — President Barack Obama will raise money in early October with a Missouri businessman whose company benefited from a $107 million federal tax credit to develop a wind power facility in his state.
Tom Carnahan, a scion of Missouri’s most prominent Democratic political family, is listed on Obama’s campaign website as a host of a $25,000-per-person fundraiser to be held in St. Louis on October 4.
His investment firm, Wind Capital Group, was helped by a sizable credit authorized in the stimulus, for an energy project in northwest Missouri.
Republicans argue that it’s inappropriate for the Obama campaign to raise money from a donor who has benefited directly from the Recovery Act.
Missouri Republican Party executive director Lloyd Smith compared the situation to the Solyndra affair, in which the Obama administration reportedly rushed federal support to a green-energy firm that subsequently collapsed.
Friday, September 23, 2011
Payback: Recipient of $107 Million Federal Tax Credit For Wind Power Project Holds Obama Fundraiser
If this happened in business, the person involved would be fired for conflict of interest if not outright fraud.