NATGAS - Senate barely stops multimillion dollar payday for Dem donors

A narrow vote in the senate just stopped a multi-billion dollar payday for three large Democratic donors. On Tuesday, the senate voted down the New Alternative Transportation to Give America Solutions Act (NATGAS), just 9 votes shy of the 60 it needed to pass.

WASHINGTON, DC (Catholic Online) - The bill sponsored by Sen. Robert Menendez (D-NJ) and Sen. Richard Burr (R-NC) would have amounted to a payday for major Democratic donors, George Soros, T. Boone Pickens, and Kevin G. Douglas. 

The bill would have funneled billions in taxpayer-funded subsidies to these men and their companies so they could purchase natural gas vehicles and fueling stations. Rather than tapping investors to cover the cost, taxpayer money would be used by taxing 2.5 cents per gallon of natural gas starting in 2014, and increasing that to an astounding 12.5 cents in 2021. 

Menendez defended the bill by explaining, "Gas prices are skyrocketing and meanwhile natural gas is $1.50 cheaper than gas, and we have 100-plus years of supply we can draw from. The only thing in our way is so few natural gas vehicles and gas stations on the road." 

But while there's nothing wrong with developing natural gas infrastructure to give consumers more choices for powering their vehicles, there is a problem with using taxpayers to fund a project whose profits will go to private entities - entities that also happen to be large Democratic donors. 
The subsides would have cost taxpayers $5 billion. 

Additionally, one of these entities, Fuel Systems Solutions, based in Santa Ana, California, is reportedly still conducting business in Iran through a foreign subsidiary despite sanctions against that country. The report was revealed in the company's US Securities and Exchange Commission filings and have been acknowledged by the company. The dealings have been mentioned in a report by the Human Events organization. 

Douglas, one of the Democratic donors who would have benefited by the taxpayer subsidies is a large shareholder in Fuel Systems. 

The three men, and their companies would have made a handsome profit had the bill been passed. 

Soros is known for giving millions to support MoveOn.org, a leftist website, and he has given $175,000 to the House Majority PAC and other large donations to other PACs. 

Pickens and his wife have also given more than $150,000 to politicians and committees that support the NATGAS Act as well as large donations to state Democratic parties based in states key to the natural gas industry.

While there's no problem with donating to favored causes and organizations, there is a problem when the taxpayers must foot the bill for a private project whose profits will line the pockets of big name political donors. 

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