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Guthrie Supports Bill to Prevent Risky Loans from DOE

Press Release

Location: Washington, DC

Congressman Brett Guthrie (KY-02) today voted in support of H.R. 6213, the "No More Solyndras Act."

H.R. 6213 would prohibit the Secretary of Energy from issuing any new loan guarantees for businesses under the Title XVII Department of Energy Loan Guarantee Program. This program is how Solyndra received a federal loan guarantee that cost taxpayers $535 million.

"Eliminating this flawed and ineffective program will ensure that American taxpayers are not responsible in the future for paying off millions of dollars of other failed business junctures," said Congressman Guthrie. "We know now that the warning signs were there for Solyndra -- the government just chose to ignore them."

The House Energy and Commerce Committee, on which Congressman Guthrie serves, approved the legislation on August 1 by a bipartisan vote.

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