Solyndra Investigation

Statement

One of the responsibilities of Congress is to provide oversight of agencies, departments, and programs in the federal government and conduct investigations when necessary. A principle goal of oversight is to make sure your taxpayer dollars are not being abused. Last week, the House Energy and Commerce Subcommittee on Oversight and Investigations (O&I), on which I serve, held a hearing regarding the Department of Energy's (DoE) $535 million stimulus loan guarantee to the now-bankrupt solar energy company, Solyndra.

For the past several months, the O&I Subcommittee has been investigating the Solyndra loan guarantee, which was finalized by the Obama Administration in September 2009. Two years later, after an FBI raid on the now-bankrupt company, taxpayers could be on the hook. I am greatly concerned by the actions relating to this loan and whether proper procedures were followed to protect taxpayers' money. A chain of emails and documents obtained by the O&I Subcommittee demonstrate that the Obama Administration may have had concerns about the financial health of Solyndra even as they rushed to finalize the loan guarantee in 2009. As more information is uncovered regarding the finances of this failed company, I will keep you informed. Haphazardly loaning taxpayer money and putting the American people on the hook for this failed company is unacceptable.

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