Your EMERGENCY tax dollars redirected to auto, energy, infrastructure

The question every Americans should ask himself … Do you believe the government has enough of your tax money to accomplish what it needs to do?

The mainstream press has not reported the latest developments of plans for our EMERGENCY tax dollars.

Last Thursday, 11/20/08 a bill was introduced by Mr. Louie Gohmert (R TX) to redirect funds from the original purposes intended by the Emergency Economic Stabilization Act.

The new bill will redirect $100 BILLION to go for transportation infrastructure

The intent of the bill is to immediately terminate the authority of the Secretary of the Treasury under the Emergency Economic Stabilization Act of 2008 to purchase troubled assets. To make a portion of the unused funding for such program available to meet critical infrastructure needs in the United States.

HR 7306 is called “Stop the Treasury Office Nationalization of the Economy Act of 2008” or “STONE”

H. R. 7306

Interestingly enough, the same day this legislation was introduced, a press release appeared announcing the Bay area infrastructure to be transformed into the “Electric Vehicle (EV) Capital of the US”. Read press release here.

Mayors Chuck Reed (San Jose), Ron Dellums (Oakland) and Gavin Newsom (San Francisco) announced this nine-step program to begin in December:

1. Expedited permitting and installation of electric vehicle charging outlets at homes, business, parking lots, and other buildings throughout the Bay Area;
2. Incentives for employers to install EV charging systems in their workplace and provide similar incentives to parking facilities and other locations where EV charging stations can be installed;
3. Harmonize local regulations and standards across the region that govern EV infrastructure to achieve regulatory consistency for EV companies as well as expanded range for EV consumers;
4. Establish common government programs that promote the purchase of EVs;
5. Link EV programs and infrastructure to regional transit and air quality programs;
6. Establish programs for aggressive pooled-purchase orders for EVs in municipal, state government and private sector fleets and future commitment of purchasing preference for EV vehicles;
7. Expedited permitting and approval for facilities that provide extended-range driving capability for EVs in the region through battery exchange locations or fast-charging;
8. Identify and secure suitable standard (110V) electric outlets for charging low voltage EVs in every government building in 2009; and
9. Identify roll-out plan for placement of 220V EV charging equipment throughout each city including city parking lots and curbside parking.

In conjunction with the news, Better Place, (formerly known as “Project Better Place”) a global electric transportation company, announced that it would enter the U.S. market with California as its first state, beginning in the Bay Area. The company was publicly launched, as Project Better Place, by Shai Agassi on 10/29/07.

Better Place Investors include:
Acorns to Oaks II
Esarbee Investments Canada
GC Investments LLC
Israel Cleantech Ventures
Israel Corp.
Maniv Energy Capital
Morgan Stanley
Musea Ventures
Ofer Group
VantagePoint Venture Partners
Vayikra Partners
Wolfensohn & Co.

Idan Ofer is Chairman of Better Place as well as Chairman of Isreal Corp. Isreal Corp. has a joint venture with Chinese automobile manufacturer Chery Corp., and a stake in lithium-ion battery maker A123Systems.

Check back soon on this post — more info coming


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