Today Oversight and Government Reform Committee Chairman Darrell Issa (R-CA) released the following statement regarding the passage of H.R. 6213, the No More Solyndras Act, which will effectively phase out Department of Energy's flawed loan guarantee program:
"The operations of the Department of Energy's loan guarantee program was rife with mismanagement and serious violations of federal law. Department officials illegally altered the terms of Solyndra's loan agreement to advantage individuals who were invested in the company and political supporters of the President. American taxpayers lost millions.
"Congress needs to diligently protect how the government spends the hard-earned money of the American taxpayers. Passing the No More Solyndras Act holds the Administration and DOE officials accountable and provides greater transparency to prevent future failures like Solyndra."