On the recordJune 5, 2012
I strongly oppose this amendment. It would put in jeopardy thousands of jobs in our energy sector. The types of projects it would jeopardize are entirely different than Solyndra. If the Member wants to reduce the risk of losing taxpayers' dollars, he should look towards the 1705 program, which has already lost over half a billion dollars to risky loans. This may be a convenient attempt to paint some of these potential loan guarantees with a Solyndra brush, but it just doesn't wash. The companies requesting these loan guarantees are not startups with shaky financial records, but neither are they large enough to have enough capital to fully pay for such massive projects. The loan guarantees help them leverage their capital in a reasonable manner to ensure that the benefits of these technologies can be shared by millions of Americans. I urge Members to vote ``no'' on this amendment, and I yield back the balance of my time.
