On the recordMay 24, 2016
While I share my colleague's concern regarding the Loan Guarantee Program and the nonresponse from the Department to the Science, Space, and Technology Committee that has requested the information--and I will guarantee you that I will do all I can to make sure that they do respond to that--the elimination of the funding would hurt Federal oversight of more than $8 billion in loan guarantees that are already out there. The committee recommendation only provides costs the program needs to monitor loans and conduct the proper oversight to ensure taxpayer funds are being effectively managed, and you should have access to that information that you have requested. Let me be clear. The funds provided in this bill support administrative operations only. Further, the bill rejects the President's request for new loan guarantee authority. The loans already committed will require oversight for many years to come. Eliminating these funds for this administrative function is the wrong approach and effectively removes the government's ability to retrieve billions of dollars in loan fees. Therefore, I have to oppose this amendment, but I understand why the gentleman is offering it. I would say that I will work with you to make sure that the Department is more responsive to the requests of the committees.
