House approves ‘No More Solyndras Act’

The Republican belief that politics played a heavy role in the loan guarantee is reflected in the bill.

By Pete Kasperowicz and Ben Geman

The Hill

The House passed legislation Friday afternoon that would curtail a Department of Energy (DOE) loan guarantee program that backed a $535 million federal loan to Solyndra, the now-bankrupt solar-panel maker.

Members approved the No More Solyndras Act, H.R. 6213, in a 245-161 vote. Republicans have held the failed green-energy company as proof that the Obama administration has funneled billions of dollars to undeserving firms.

Passage sends the bill to a Senate that is expected to ignore it completely.

While the two parties have had heated debate over the Solyndra failure for the last year, 22 Democrats broke ranks and voted for the bill, along with all but four Republicans.

If it were to become law, the bill would prevent DOE from approving any loan guarantee applications filed after 2011. Applications sent in before 2012 could only be approved after a review by the Treasury Department that affirms the loan guarantee makes financial sense.


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September 2012