On the recordSeptember 14, 2012
I thank the chairman for the opportunity to speak today. Mr. Chairman, I rise today in strong support for H.R. 6213, the No More Solyndras Act. I'm proud to be an original cosponsor of this bill, which will protect American taxpayers from losses under failed, unaccountable Federal loan guarantee programs. The bill will end the controversial loan program created in the failed stimulus bill, under which the Obama administration provided an ill-advised $535 million loan guarantee to the solar company Solyndra, which subsequently went bankrupt. The legislation would also enforce new accountability standards for applications that have already been accepted under the program. {time} 1040 I understand the desire to do something to help American businesses succeed, but allowing freewheeling, government-knows-best bureaucrats to put billions of taxpayer dollars at risk with no accountability is not the way to do it. Let's be clear, Mr. Chairman. The government should not be in the business of picking winners and losers. It's time to end wasteful government spending, to protect taxpayer dollars, and to empower the private sector over government. With that, I urge my colleagues to support this bill.
