Republican House Passes “No More Solyndras Bill”
“Solyndra” has become a buzzword for failed companies that got government money, and Republicans have harped on it with a 18-month investigation into why it failed. Now they are trying to make political hay by passing a bill with in its name. Of course many Republicans voted to fund green companies in the first place, and this bill ignores the number of successes.
In total, the Energy Department has approved $34.7 billion in loans to 33 projects. Aside from Solyndra, two other companies with loans have gone bankrupt.
Democrats slammed the legislation, saying it ignores successes in the loan portfolio.
“This is not serious legislation, it’s a political bill,” said Henry Waxman, the top Democrat on the House Energy panel.