Biden's Green Energy Loans: Taxpayer Dollars at Risk
Submitted by MAGA
Posted 2 hours ago
**Taxpayer Risks Soar as Biden Administration Rushes Green Energy Loans**
In a startling display of urgency, the Biden administration is scrambling to finalize over a dozen green energy loans, worth more than $25 billion, before the anticipated January inauguration of President Trump.
This frenzied move raises serious concerns among lawmakers and industry officials about potential fraud and misuse of taxpayer dollars.
Amid the growing pressure, the Department of Energy's Loan Programs Office has accelerated its efforts to finalize a total of 16 pending loans.
In the previous months alone, the office has closed on seven loans totaling $5.9 billion, including two sealed after the recent election.
Critics assert that this rush to distribute funds is a last-ditch effort to solidify President Biden's failing green energy agenda.
Prominent Republican voices, including Senate Energy and Natural Resources Committee ranking member John Barrasso and House Energy and Commerce Committee chairwoman Cathy McMorris Rodgers, have voiced grave concerns about the administration’s haste.
Senator Barrasso warned that the quick dispersal of these loans could lead to “politically connected firms” profiting at the taxpayers’ expense.
He echoed calls for the incoming Trump administration to scrutinize any loans finalized in the coming weeks, pledging that Congress would act to prevent wasteful spending.
“This is a reckless spending spree that threatens to waste taxpayer dollars, reminiscent of the infamous Solyndra debacle,” added McMorris Rodgers.
Indeed, the ill-fated solar panel maker Solyndra famously received $535 million from the Loan Programs Office, only to declare bankruptcy shortly thereafter.
This incident has become a cautionary tale that highlights the need for better oversight in federal energy spending.
With the incoming Trump administration likely looking to halt unnecessary expenditures, the political landscape surrounding these loans is charged with uncertainty.
The Loan Programs Office, which has been essentially dormant throughout Trump's first term, is now faced with applications totaling a staggering $303.5 billion, dwarfing the gross domestic product of nearly 30 states.
The largest pending loan, at $9.2 billion, is aimed at supporting electric vehicle battery manufacturing in Tennessee and Kentucky—a focal point of Biden's climate strategy.
Republicans signal a sharp pivot in energy policy as they prepare to reclaim power, with many advocating for a return to energy independence and reducing reliance on unreliable green energy programs.
As skepticism mounts regarding the timing and motivations driving this loan rush, it underscores a general concern about government accountability and fiscal responsibility.
With the Trump administration on the horizon, many anticipate a renewed focus on efficiency and transparency in federal energy initiatives.
Sources:
justthenews.com
justthenews.com
freebeacon.com
In a startling display of urgency, the Biden administration is scrambling to finalize over a dozen green energy loans, worth more than $25 billion, before the anticipated January inauguration of President Trump.
This frenzied move raises serious concerns among lawmakers and industry officials about potential fraud and misuse of taxpayer dollars.
Amid the growing pressure, the Department of Energy's Loan Programs Office has accelerated its efforts to finalize a total of 16 pending loans.
In the previous months alone, the office has closed on seven loans totaling $5.9 billion, including two sealed after the recent election.
Critics assert that this rush to distribute funds is a last-ditch effort to solidify President Biden's failing green energy agenda.
Prominent Republican voices, including Senate Energy and Natural Resources Committee ranking member John Barrasso and House Energy and Commerce Committee chairwoman Cathy McMorris Rodgers, have voiced grave concerns about the administration’s haste.
Senator Barrasso warned that the quick dispersal of these loans could lead to “politically connected firms” profiting at the taxpayers’ expense.
He echoed calls for the incoming Trump administration to scrutinize any loans finalized in the coming weeks, pledging that Congress would act to prevent wasteful spending.
“This is a reckless spending spree that threatens to waste taxpayer dollars, reminiscent of the infamous Solyndra debacle,” added McMorris Rodgers.
Indeed, the ill-fated solar panel maker Solyndra famously received $535 million from the Loan Programs Office, only to declare bankruptcy shortly thereafter.
This incident has become a cautionary tale that highlights the need for better oversight in federal energy spending.
With the incoming Trump administration likely looking to halt unnecessary expenditures, the political landscape surrounding these loans is charged with uncertainty.
The Loan Programs Office, which has been essentially dormant throughout Trump's first term, is now faced with applications totaling a staggering $303.5 billion, dwarfing the gross domestic product of nearly 30 states.
The largest pending loan, at $9.2 billion, is aimed at supporting electric vehicle battery manufacturing in Tennessee and Kentucky—a focal point of Biden's climate strategy.
Republicans signal a sharp pivot in energy policy as they prepare to reclaim power, with many advocating for a return to energy independence and reducing reliance on unreliable green energy programs.
As skepticism mounts regarding the timing and motivations driving this loan rush, it underscores a general concern about government accountability and fiscal responsibility.
With the Trump administration on the horizon, many anticipate a renewed focus on efficiency and transparency in federal energy initiatives.
Sources:
justthenews.com
justthenews.com
freebeacon.com
Latest News