{"id":2012793,"date":"2023-08-26T05:41:02","date_gmt":"2023-08-26T09:41:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-biden-vacation-host-tom-steyer-benefits-from-presidents-climate-bill\/"},"modified":"2023-08-26T05:48:54","modified_gmt":"2023-08-26T09:48:54","slug":"how-biden-vacation-host-tom-steyer-benefits-from-presidents-climate-bill","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-biden-vacation-host-tom-steyer-benefits-from-presidents-climate-bill\/","title":{"rendered":"Biden&#8217;s Climate Bill: Tom Steyer&#8217;s Vacation Perks"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">14<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fhow-biden-vacation-host-tom-steyer-benefits-from-presidents-climate-bill%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2012793&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div>\n<blockquote>\n<h2>Liberal billionaire&#8217;s\u2064 green \u2064investment \u2063fund works to &#8216;take advantage&#8217;\u2062 of federal \u2063climate spending<\/h2>\n<\/blockquote>\n<figure><figcaption>\n<p>      Tom Steyer (Getty Images)<br \/>\n   \u2064<br \/>\n    <\/figcaption><\/figure>\n<\/div>\n<div>\n<p>Billionaire climate activist Tom Steyer, who provided his Lake Tahoe mansion for a Biden family vacation this week, manages a green energy investment \u200dfund that&#8217;s working \u2063to &#8220;take advantage&#8221; of federal climate change spending provided through President Joe Biden&#8217;s so-called Inflation\u200d Reduction Act.<\/p>\n<p>Just two months before the Biden\u200d family arrived at Steyer&#8217;s $18 million property, the liberal \u2064billionaire&#8217;s green energy fund <a href=\"https:\/\/galvanizeclimate.com\/news\/galvanize-climate-solutions-partners-with-boundary-stone-to-launch-new-tool-to-help-utilize-inflation-reduction-act-incentives-in-real-estate\/#:~:text=Initiated%20by%20Galvanize's%20recently%20launched,(IRA)%20and%20accelerate%20decarbonization.\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/galvanizeclimate.com\/news\/galvanize-climate-solutions-partners-with-boundary-stone-to-launch-new-tool-to-help-utilize-inflation-reduction-act-incentives-in-real-estate\/%23:~:text%3DInitiated%2520by%2520Galvanize's%2520recently%2520launched,(IRA)%2520and%2520accelerate%2520decarbonization.&#038;source=gmail&#038;ust=1693072125070000&#038;usg=AOvVaw1XMVNBbMkGVMhQ8CKCkM6k\">touted<\/a> its \u2064work to &#8220;take advantage of the financial incentives from the\u200b Inflation Reduction Act&#8221; through a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-ice-nominee-took-trip-to-china-funded-by-cash-for-visas-advocacy-group\/\" title=\"Biden ICE Nominee Took Trip to China Funded by Cash-for-Visas Advocacy Group\">real estate project<\/a> that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/how-biden-vacation-host-tom-steyer-benefits-from-presidents-climate-bill\/\" title=\"Biden's Climate Bill: Tom Steyer's Vacation Perks\">helps developers obtain taxpayer funds<\/a>. Steyer&#8217;s firm, Galvanize Climate \u200bSolutions, also <a href=\"https:\/\/galvanizeclimate.com\/investment-strategies\/venture-and-growth\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/galvanizeclimate.com\/investment-strategies\/venture-and-growth\/&#038;source=gmail&#038;ust=1693072125070000&#038;usg=AOvVaw3vyH4ZG1y7hENLGh5bePX9\">invests<\/a> in\u2063 a slew of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-proves-he-learned-nothing-from-obamas-green-failure\/\" title=\"Biden Proves He Learned Nothing From Obama\u2019s Green Failure\">green energy companies<\/a> \u2063that stand to benefit from the hundreds of billions of dollars in uncapped tax \u2063incentives included in the Inflation Reduction Act, a <em>Washington Free Beacon<\/em> \u200breview found.<\/p>\n<p>Steyer&#8217;s\u2064 open pursuit to\u200b leverage Inflation Reduction\u2062 Act funding to advance his green portfolio did not stop Biden from taking his family to\u2062 Steyer&#8217;s <a href=\"https:\/\/nypost.com\/2023\/08\/19\/bidens-vacation-at-billionaire-tom-steyers-18m-lake-tahoe-mansion\/\">luxurious lakefront property<\/a> \u2063 for\u2064 a week-long vacation. Included on the trip is scandal-plagued first\u2062 son Hunter Biden, who has used his father&#8217;s name\u200c to profit handsomely in energy-related business dealings. Steyer \u200din 2020 met with eventual White House chief of staff Ron\u2064 Klain to discuss a potential energy policy\u200c role \u2062in the\u200c Biden administration, and\u200c the billionaire launched his <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/john-podesta-earned-thousands-consulting-for-green-energy-billionaires-he-now-oversees-a-federal-fund-that-could-make-them-rich\/\" title=\"John Podesta Earned Thousands Consulting for Green Energy Billionaires. He Now Oversees a Federal Fund That Could Make Them Rich.\">green energy investment firm<\/a>\u2062 just one year \u2063later.<\/p>\n<p>For Michael Chamberlain, director of ethics watchdog \u200bgroup Protect the Public Trust, Steyer&#8217;s status as \u200cBiden&#8217;s vacation host reflects the president&#8217;s open embrace of green energy insiders. In one case, Biden <a href=\"https:\/\/freebeacon.com\/biden-administration\/biden-to-showcase-energy-secs-former-company-at-infrastructure-event\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/biden-administration\/biden-to-showcase-energy-secs-former-company-at-infrastructure-event\/&#038;source=gmail&#038;ust=1693072125070000&#038;usg=AOvVaw37Jkm5-bgRt92twGxE_Ds-\">heaped praise<\/a> \u200b on an electric bus company that counted\u2063 his energy secretary, Jennifer Granholm, as a \u2064top investor. That company, Proterra, <a href=\"https:\/\/freebeacon.com\/energy\/biden-said-ev-maker-proterra-was-getting-us-in-the-game-it-just-declared-bankruptcy\/\" target=\"_blank\" rel=\"noopener\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/freebeacon.com\/energy\/biden-said-ev-maker-proterra-was-getting-us-in-the-game-it-just-declared-bankruptcy\/&#038;source=gmail&#038;ust=1693072125070000&#038;usg=AOvVaw1UnFbBRQY4Qlhnyc_re2MY\">declared bankruptcy<\/a> earlier this month\u2014but only after Granholm sold her stake for a sizable profit.<\/p>\n<p>&#8220;Large \u2064tranches of \u200dso-called Green New \u2064Deal funds [are] going to former employees and clients of senior appointees,&#8221; Chamberlain said. &#8220;This is certainly \u200bnot consistent with the \u2062most ethical and transparent administration we were promised.&#8221;<\/p>\n<p>Neither the White House nor Galvanize returned requests for comment. The Biden administration \u200bhas defended the vacation by arguing that Biden\u2064 is renting Steyer&#8217;s\u200d home \u200b&#8221;for fair\u200c market value.&#8221;<\/p>\n<p>Steyer&#8217;s \u200bGalvanize <a href=\"https:\/\/www.businesswire.com\/news\/home\/20221117005349\/en\/Galvanize-Climate-Solutions-Launches-New-Global-Equity-Strategy#:~:text=Galvanize%20Global%20Equity%27s%20mission%20is,Co%2DExecutive%20Chair%20of%20Galvanize.\">works<\/a> to deliver\u200b financial returns\u200b by &#8220;catalyzing \u200can acceleration of energy transition and\u2062 climate \u2064aligned behaviors.&#8221;\u2064 The \u200bmarket for \u200dthat energy transition\u2064 exploded in the United\u2063 States following Biden&#8217;s Inflation Reduction\u2064 Act, which\u200c allocates <a href=\"https:\/\/www.wsj.com\/articles\/inflation-reduction-act-subsidies-cost-goldman-sachs-report-5623cd29\">more\u2062 than $1 trillion<\/a> for uncapped green energy tax credits. One of Galvanize&#8217;s partners, Alcemy, works to produce &#8220;sustainable cement.&#8221; Biden&#8217;s legislation contains $5 billion for green building material programs.<\/p>\n<p>In addition to the extensive federal benefits made available\u200c to Galvanize\u2019s green\u200d energy portfolio, Steyer\u2019s \u2064green energy investment fund also <a href=\"https:\/\/freebeacon.com\/wp-content\/uploads\/2022\/12\/john-podestas-personal-financial-disclosure-statement-oct-28-2022-1-1.pdf\">tapped<\/a> John Podesta as\u200c an adviser, paying the former White House chief of staff $84,000 in consulting \u200dfees between December 2021 and August 2022. Biden\u2063 later <a href=\"https:\/\/freebeacon.com\/biden-administration\/john-podesta-earned-thousands-consulting-for-green-energy-billionaires-he-now-oversees-a-federal-fund-that-could-make-them-rich\/\">appointed Podesta<\/a> to oversee the Inflation Reduction Act&#8217;s climate investments. Following Podesta\u2019s appointment in\u2064 September 2022, \u200dGalvanize met with \u200dPodesta and Treasury \u200cSecretary Janet Yellen to\u2062 discuss how to best utilize the federal climate funds, the <em>Free Beacon<\/em> <a href=\"https:\/\/freebeacon.com\/biden-administration\/john-podesta-earned-thousands-consulting-for-green-energy-billionaires-he-now-oversees-a-federal-fund-that-could-make-them-rich\/\">reported<\/a> \u2062 in \u200dDecember.<\/p>\n<p>Steyer is also <a href=\"https:\/\/www.sec.gov\/comments\/s7-10-22\/s71022.htm\">pushing<\/a> the Securities and Exchange Commission to pass \u200ba <a href=\"https:\/\/www.sec.gov\/files\/rules\/proposed\/2022\/33-11042.pdf\">new \u200drule<\/a> \u2064 that would require \u2063publicly \u200dtraded companies to provide certain climate-related \u2063information in their financial filings. Steyer&#8217;s firm\u200b could benefit from such \u2063a rule, given that Galvanize invests in a company that helps \u200cclients report emissions.\u2062 &#8220;The current lack of mandatory \u200ddisclosures has left \u200cU.S. companies at a distinct competitive disadvantage,&#8221; Steyer <a href=\"https:\/\/www.sec.gov\/comments\/s7-10-22\/s71022-20131136-301328.pdf\">wrote in a public comment<\/a> filed\u2062 last year to\u2064 the \u2063commission. &#8220;It is critically important to conduct appropriate\u2064 diligence on the transition and physical risks that a company is facing\u2063 related \u2062to the climate crisis.&#8221;<\/p>\n<p>Biden and his family arrived at Steyer&#8217;s mansion \u200don August 18\u2062 for a week-long stay. The waterfront mansion is <a href=\"https:\/\/nypost.com\/2023\/08\/19\/bidens-vacation-at-billionaire-tom-steyers-18m-lake-tahoe-mansion\/\">considered<\/a> &#8220;one of Lake Tahoe&#8217;s <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/joe-and-hunter-biden-vacation-at-billionaire-climate-activists-lake-tahoe-mansion\/\" title=\"Joe and Hunter Biden holiday at billionaire climate activist's Lake Tahoe home.\">finest lakefront properties<\/a> and the\u200b pinnacle waterfront estate within the gated Glenbrook\u2064 community&#8221; and features a &#8220;spectacular lakeside gazebo [that] rests between the park-like\u200c grounds and the calming shores \u200dof Glenbrook Bay.&#8221; \u200bLocal officials are <a href=\"https:\/\/thenevadaglobe.com\/articles\/scoop-tom-steyer-under-vhr-investigation-for-renting-home-to-first-family-without-a-permit\/\">investigating the rental arrangement<\/a>, \u2064according to the \u200d <em>Nevada Globe<\/em>, as Steyer \u2064does not appear to hold a vacation \u200brental permit.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Billionaire climate activist Tom Steyer, who hosted the Biden family at his Lake Tahoe mansion, oversees a green energy fund aiming to capitalize on federal climate change funding under President Joe.<\/p>\n","protected":false},"author":2088,"featured_media":2012794,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-2012793","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2012793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/2088"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2012793"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2012793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2012794"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2012793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2012793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2012793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}