Obama Mega Donor Financially Backed Solar Company Now Seeking Trade Tariffs

The Daily Caller covers new developments in a company advocating for trade tarrifs on solar panels, which CEI has opposed in a letter with the R Street Institute.

One of former President Barack Obama’s wealthiest donors financially-backed a now-insolvent solar company seeking trade tariffs against foreign green energy products.

Mark Gallogly, a major Democratic donor and Wall Street insider, held significant voting shares in SolarWorld before the company became insolvent, according to documents obtained by The Daily Caller News Foundation. He was also one of Obama’s “core crew” of Manhattan donors.

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Free market groups, most of which rarely find themselves aligning with industries that receive government support, have also called out the proposed tariffs.

Washington, D.C., based think tanks R-Street Institute and the Competitive Enterprise Institute, for instance, wrote a letter in October to the Trump administration urging the president to shy away from the push. They also argue history has not favorably on similar tariffs in the past.

Read the full article at The Daily Caller.