Investors with Close Ties to the President, Including Billionaire George Kaiser, Sought “Tax Avoidance” and Left Taxpayers Holding the Bag for Half a Billion Dollars
IRS Recognizes Solyndra Deal Was Rotten from the Outset and Seeks Rejection of Solyndra Bankruptcy PlanOctober 11, 2012 | ICYMI
WASHINGTON, DC – Republican members of the House Energy and Commerce Committee today wrote to U.S. Comptroller General and head of the Government Accountability Office Gene Dodaro requesting a study of federal spending used to support energy-related technologies. Full committee Chairman Fred Upton (R-MI), Energy and Power Subcommittee Chairman Ed Whitfield (R-KY), Rep. Tim Murphy (R-PA), and Rep.
Excerpt: The federal government currently supports energy-related technologies, projects, and companies through various forms of federal assistance, including grants, direct loans, loan guarantees, and a range of available tax credits. Federal dollars also are used to advance programmatic activities, such as implementation of the federal energy mandates.
Excerpt: Abound was the fifth stimulus-funded loan guarantee issued under Section 1705 of the Energy Policy Act of 2005, as amended by the American Recovery and Reinvestment Act (ARRA). Just nine months after the closing of a $400 million loan guarantee in December 2010, DOE stopped funding the project.
Committee Leaders Probe DOE's Knowledge of Loan Recipient's Faulty Solar Panels – Now-Bankrupt Abound Awarded $400 Million Loan Guarantee from Same Program as SolyndraOctober 10, 2012 | Press Release
WASHINGTON, DC – Leaders of the House Energy and Commerce Committee are continuing their investigation into the Department of Energy’s loan guarantee program, seeking information regarding the department’s $400 million stimulus loan guarantee awarded to now-bankrupt solar panel manufacturer Abound Solar. Chairman Fred Upton (R-MI), Oversight and Investigations Subcommittee Chairman Cliff Stearns (R-FL), and Rep.
The bipartisan leadership of the Energy and Commerce Committee and its Communications and Technology Subcommittee today released data submitted by the Federal Communications Commission regarding the Universal Service Fund high-cost and low-income support programs. The data was supplied by the FCC in response to a request by the committee regarding USF support payments.