Today, Congressman Bill Cassidy, M.D. (R-LA) voted for H.R. 6213, the No More Solyndras Act, during a vote in the House Energy and Commerce Committee. The bill phases out the failed Department of Energy loan guarantee program which financed Solyndra. It also imposes tough penalties upon federal employees who violate the program's requirements.
"The loan guarantee program in the Department of Energy has failed. It infused taxpayer dollars into three failed companies, including Solyndra. Furthermore, it enabled federal employees and administration officials to engage in reckless behavior with our money. Such activities are unacceptable.
"This bill ends the loan guarantee program and enacts harsh penalties to stem future abuses. These actions provide impetus for an economic strategy which restrains Washington and encourages energy exploration. We must move away from failed government programs and rely again on free-market policies."