$50M. STATE GRANT

3/30/22: MICHIGAN TAXPAYERS SCHEDULED TO DONATE $50,000,000 TO MICHIGAN POTASH & SALT COMPANY

On March 30, 2022, Michigan’s governor and legislature, finding themselves temporarily awash in extra taxpayer money, rammed through a bill granting fifty-million dollars to Michigan Potash & Salt Co. It appears that no due-diligence was performed regarding either the company or its owner and that both the governor and legislature decided to give away this money based solely on information supplied by the company itself. Now, the federal government, through the U.S. Dept. of Agriculture, is sounding like it might follow suit. MPSC has spent years seeking over a billion dollars to finance their scheme. This fifty million dollar gift of taxpayer money won’t change the fact that private investors are not lining up to fund a replay of what large established mining companies gave up on. So: If private investors remain leery of this venture, are our State and Federal governments prepared to ante up even more of our tax dollars? Is this the sort of political process which led to the Solyndra debacle eleven years ago?