On the recordJuly 23, 2024
Many have supported this program, but in recent years, it is even more egregious. Recent legislation removed the $25 billion cap on loan authority. While some folks say, well, the loans are all out and we just need to administer them, the cap on loan authority has now opened up. It has opened up the program not just to light-duty vehicle manufacturers, but to medium- and heavy-duty vehicles, trains, and maritime vessels. What do you think is going to happen when the government is handing out money without a cap on it? You know what is going to happen, Madam Chair. You go from $35 trillion to $36 trillion, and the debt just keeps on climbing a trillion dollars every 100 days. I know there are people that want this money. Everybody wants government money, but the people that live in this country that pay the bill can no longer afford it. Madam Chair, I urge adoption, and I yield back the balance of my time.
