Today, Congresswoman Doris Matsui (CA-05) spoke on the floor of the House of Representatives in opposition to the "No More Solyndras Act,' legislation that would freeze the Department of Energy's (DOE) loan guarantee program by barring it from considering loan applications submitted after December 31, 2011. Her remarks, as prepared for delivery, are as follows:
"The "No More Solyndras Act' is just the latest scheme by the majority party to distract from the real issues that affect our economy, and to attack America's clean energy investments and future. While Solyndra did not achieve its goals, other projects did, and they have made great investments in clean energy infrastructure and job creation.
"Not every investment works out, but one failure is not a valid reason to condemn the entire DOE loan guarantee program, a program created in a bipartisan manner to further our energy independence and spur economic growth. In fact, an independent report by Herb Allison earlier this year confirms that the program actually holds less risk than originally envisioned when Congress first created and funded the program.
"American companies are fighting an uphill battle against foreign countries that aggressively subsidize their clean energy industries. Last year, China and Germany both heavily invested in their clean energy future. We cannot and should not depend on foreign made clean energy technologies.
"In order to remain competitive in the global marketplace, the federal government must continue to play an active role in encouraging and promoting investment in clean energy technologies. Not only does this support help spur innovation, but the loan guarantee program has already generated $40 billion dollars of direct private investment in the U.S. economy, and is supporting 60,000 direct jobs in American clean energy industries.
"My district of Sacramento is home to nearly 14,000 clean technology jobs and houses more than 230 clean technology companies. These are small business owners who understand the need for federal investment to help level the playing field at home and in the global marketplace. These companies hold the promise of making us the world leader in clean energy technology, while simultaneously creating good paying jobs, lowering energy prices, and protecting our environment.
"This partisan bill will take us backwards in this pursuit, and I urge my colleagues to vote against it."