GOP Reps Demand DOE Stop Issuing Green Loans Amid ‘Lame-Duck Spending Bonanza’

[rangerrebew]

GOP Reps Demand DOE Stop Issuing Green Loans Amid ‘Lame-Duck Spending Bonanza’
by Nick Pope  Dec 5, 2024 
 
Republicans on the House Energy and Commerce Committee are demanding that the Department of Energy’s (DOE) green tech loans office stop giving out loans amid a lame-duck lending bonanza. [emphasis, links added]

Republican Reps. Cathy McMorris Rodgers of Washington, Jeff Duncan of South Carolina, and H. Morgan Griffith of Virginia wrote to DOE Loan Programs Office (LPO) director Jigar Shah to demand that LPO stop issuing any new conditional commitments, loans or loan guarantees in the waning days of the Biden administration.


LPO — which supports fledgling green tech companies that may otherwise struggle to secure private sector financing — has significantly accelerated its lending in recent months, and the office is reportedly hustling to lock in approximately $25 billion worth of financing before President-elect Donald Trump takes office in January 2025.

“On election day, the American people rejected the Biden-Harris administration’s rush-to-green agenda,” the lawmakers wrote in their letter to Shah.

https://climatechangedispatch.com/gop-reps-demand-doe-stop-issuing-green-loans-amid-lame-duck-spending-bonanza/

[rangerrebew]

GOP Leaders Demand Biden-Harris Admin Freeze Lame Duck Green Loans – Already dished out $21 billion in green loans since November election
By Marc Morano
December 8, 2024
 
By Thomas Catenacci
December 5, 2024

House GOP leaders are calling on the Biden-Harris administration to immediately freeze its behemoth green energy loan disbursements, which officials have accelerated in recent weeks ahead of President Donald Trump’s upcoming term, the Washington Free Beacon has learned.

Reps. Cathy McMorris Rodgers (R., Wash.), Morgan Griffith (R., Va.), and Jeff Duncan (R., S.C.), all of whom serve in top positions on the Energy and Commerce Committee, penned a letter Wednesday to the Department of Energy’s Loan Programs Office, arguing that its recent flood of loans presents substantial financial risks to taxpayers. They added that the accelerated spending appears motivated by looming cuts to green energy loan programs, which Trump has promised to “terminate.”

The Republicans cite a recent Free Beacon analysis that tracked all pending and closed green loans dished out by the Loan Programs Office. Since that analysis was published last month, the office’s total financial commitments have increased from $37.6 billion to nearly $57 billion, a jump driven in large part by multibillion-dollar loans promised to automakers Rivian and Stellantis for electric vehicle projects.

https://www.climatedepot.com/2024/12/08/gop-leaders-demand-biden-harris-admin-freeze-lame-duck-green-loans-already-dished-out-21-billion-in-green-loans-since-november-election/

[DefiantMassRINO]

How's that FY2025 Budget coming along, guys?

[mountaineer]

Former Biden DOE Loan Programs Office director Jigar Shah was asked “Is there anything you wish you had done differently at LPO?”

His response: “Not a single thing.”

Could that be because he finalized a $1.6 BILLION federal loan to a company with which he had prior financial ties?

https://twitter.com/SteveGuest/status/1889327853545591059