# EP005 — Follow the Money
## How Donor-Friendly Decisions Get Sold as Public Policy
**TinFoilHatsMatter** | Episode 005
Published: May 6, 2026 | Duration: ~35 min
Available on Spotify · Apple Podcasts · YouTube
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## Episode Summary
What do the shutdown of a nuclear power plant, a Medicare drug benefit, the repeal of net neutrality, and corn ethanol subsidies have in common? In every case, the official justification — safety, access, innovation, clean energy — turned out to be cover for a private transfer of value to someone with a check in hand.
This episode maps the money. Starting with the Indian Point Energy Center closure and the federal bribery conviction that revealed who actually benefited, then widening the lens to three of the most well-documented cases of donor-capture in recent American policy history: the Medicare Part D prescription drug ban on price negotiation, the repeal of net neutrality by a former Verizon lawyer, and the decades-long ethanol subsidy regime built by one company through bipartisan political donations. The throughline is simple: decisions that look dumb in hindsight are often calculated in real time — calculated to benefit someone who will not be named at the press conference.
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## What We Cover
**Indian Point Energy Center — New York**
The closure of a 2,000-megawatt carbon-free nuclear plant in 2021, ostensibly on safety grounds, was accompanied by a federal bribery prosecution revealing that a natural gas company — Competitive Power Ventures — had paid $287,000 in bribes to Governor Cuomo's top aide Joseph Percoco, specifically in exchange for advocacy toward closing Indian Point. The CPV gas plant that replaced Indian Point's generation is now running on fracked natural gas. New York's carbon emissions from the electric sector rose after closure. Governor Hochul is now building a new nuclear plant.
**Medicare Part D — Washington, DC**
In 2003, Congressman Billy Tauzin (R-LA), as Chairman of the House Energy and Commerce Committee, shepherded the Medicare prescription drug benefit into law with one critical feature: Medicare was legally prohibited from negotiating drug prices with pharmaceutical companies — despite every other federal drug program retaining that right. The day after his congressional term ended, Tauzin was announced as the new President and CEO of PhRMA, the pharmaceutical industry's main lobbying group, at a reported salary of $2 million per year. He eventually received $11.6 million in a single year. At least 15 staffers and officials who worked on the legislation subsequently took industry positions.
**Net Neutrality — Washington, DC**
In December 2017, FCC Chairman Ajit Pai repealed net neutrality protections — over 22 million public comments, bipartisan polling support for keeping the rules, and opposition from major tech companies. Pai had previously worked as an in-house lawyer for Verizon Communications, handling regulatory and broadband policy. Verizon, Comcast, and AT&T spent hundreds of millions lobbying against net neutrality. AT&T's PAC contributed to 88 percent of House members. Following the repeal, providers were documented throttling traffic, including during a California wildfire emergency involving first responder communications.
**Corn Ethanol & Archer Daniels Midland — Decatur, IL**
For over four decades, ADM, the agricultural processing giant, used bipartisan campaign contributions — $8.2 million at the federal level between 1990 and 2008 alone — to build and defend a legislative architecture that mandated the use of corn ethanol in American gasoline while subsidizing its production. Independent analysis found that every $1 of ADM ethanol profit cost taxpayers $30, and at least 43 percent of ADM's total profits came from government-subsidized or government-protected products. The ethanol mandate drove up corn prices, contributed to global food price increases, and consumed three-quarters of available renewable energy tax credits — crowding out wind and solar.
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## Named Persons Reference
| Name | Role | Connection |
|---|---|---|
| Andrew Cuomo | Former Governor, New York | Received $75,000 in donations from CPV; two of his top aides were convicted in related bribery scheme |
| Joseph Percoco | Former Executive Deputy Secretary to Cuomo | Convicted 2018 of honest services fraud and solicitation of bribes from CPV; wife received $90K/yr low-show job |
| Peter Galbraith Kelly | Former CPV Senior Executive | Pleaded guilty to arranging bribes to Percoco totaling $287,000 |
| Todd Howe | Former Cuomo aide | Indicted in same corruption case; began seeking Percoco's assistance in advocating for Indian Point closure as early as 2010 |
| Kathy Hochul | Governor, New York | Continued Cuomo energy agenda; announced new nuclear plant construction in 2025 |
| Billy Tauzin | Former Congressman (R-LA); Former President & CEO, PhRMA | Authored Medicare Part D prohibition on drug price negotiation; announced as PhRMA CEO the day his term ended |
| Ajit Pai | Former FCC Chairman (2017–2021) | Repealed net neutrality; previously worked as in-house counsel for Verizon Communications |
| Dwayne Andreas | Former CEO, Archer Daniels Midland (1971–1999) | Described as one of the most influential political donors of the 20th century; funded campaigns across both parties; connected to Watergate-era illegal contribution |
| Preet Bharara | Former U.S. Attorney, Southern District of New York | Filed the federal indictment in the Percoco/CPV case |
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## Organizations Referenced
| Organization | Role in Episode |
|---|---|
| Competitive Power Ventures (CPV) | Natural gas company that bribed Cuomo aide; operates CPV Valley Energy Center, which came online as Indian Point closed |
| Entergy | Former owner/operator of Indian Point Energy Center |
| PhRMA | Pharmaceutical industry trade group; hired Tauzin as CEO the day after he left Congress |
| FCC (Federal Communications Commission) | Regulatory body; voted to repeal net neutrality in 2017 under Pai's chairmanship |
| Verizon Communications | Telecom company; Pai's former employer; major beneficiary of net neutrality repeal |
| Archer Daniels Midland (ADM) | Agricultural processing giant; primary beneficiary of corn ethanol mandates and subsidies |
| Nuclear Regulatory Commission (NRC) | Federal body responsible for nuclear plant safety oversight; Indian Point operated within its required safety parameters through closure |
| Riverkeeper | Environmental organization; long-time opponent of Indian Point |
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## Key Numbers
- **2,000+ MW** — Indian Point's carbon-free generating capacity at closure
- **25%** — Share of New York City's electricity supplied by Indian Point
- **$287,000** — Total bribes paid by CPV to Cuomo aide Joseph Percoco
- **$75,000** — CPV's direct donations to Cuomo's campaign
- **$2,000,000/year** — Billy Tauzin's reported starting salary as PhRMA CEO
- **$11,600,000** — Tauzin's reported single-year compensation from PhRMA
- **15+** — Congressional staffers and officials who worked on Medicare Part D and subsequently took pharmaceutical industry positions
- **22,000,000** — Public comments submitted opposing net neutrality repeal
- **88%** — Percentage of House members who received AT&T donor contributions
- **$8,200,000+** — ADM's federal political contributions from 1990–2008
- **43%** — Share of ADM's annual profits derived from government-subsidized or protected products
- **$30** — Taxpayer cost for every $1 of ADM ethanol profit (Cato Institute, 1995)
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## Sources & Further Reading
**Indian Point / CPV**
- U.S. Attorney for the Southern District of New York, *United States v. Percoco et al.*, Indictment filed Sept...