Last week, the House Energy and Commerce Committee passed the “No More Solyndras Act.” As Taxpayers for Common Sense notes, however, the bill should probably be called the “More Solyndras Act” because it would still allow the Department of Energy to approve loan guarantee applications that were submitted by Dec. 31, 2011.

Today the House Energy and Commerce Committee passed the so-called “No More Solyndras Act.” While the bill includes some taxpayer protections, it does not go far enough to ensure the Department of Energy (DOE) Loan Guarantee Program does not lose more on defaulted loans that carry much higher price tags than defaulted solar panel manufacturer, Solyndra. As currently drafted, the bill leaves $34 billion in loan guarantees on the table for projects ranging from coal and nuclear to biofuels and solar. Because these projects were vetted through the same flawed process as Solyndra, this bill could easily lead to billions in defaulted projects.

Sensing an opportunity to embarrass Republicans, Rep. Ed Markey (D-MA) offered an amendment that would have completely ended the Title 17 loan guarantee program. Most of the committee’s Republicans promptly embarrassed themselves by joining all Democrats in voting down the amendment 3-39. Republicans Mike Pompeo (Kansas), Michael Burgess (Texas), and Steve Scalise (Louisiana) were the only members to vote to abolish the program.

This isn’t the first time that Republicans have joined Democrats to save the program. Back in June, an amendment that would have shut down the Title 17 loan guarantee program failed 136-282 with 127 Republicans joining 155 Democrats to defeat it. Only 54 percent of freshmen Republicans from the so-called “Tea Party Class” supported the amendment.

No More Solyndras? Not Quite is a post from Cato @ Liberty – Cato Institute Blog

The 10th Amendment

“The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people.”

LEARN MORE

01

Featured Articles

On the Constitution, history, the founders, and analysis of current events.

featured articles

02

Tenther Blog and News

Nullification news, quick takes, history, interviews, podcasts and much more.

tenther blog

03

State of the Nullification Movement

232 pages. History, constitutionality, and application today.

get the report

01

Path to Liberty

Our flagship podcast. Michael Boldin on the constitution, history, and strategy for liberty today

path to liberty

02

Maharrey Minute

The title says it all. Mike Maharrey with a 1 minute take on issues under a 10th Amendment lens. maharrey minute

Tenther Essentials

2-4 minute videos on key Constitutional issues - history, and application today

TENTHER ESSENTIALS

Join TAC, Support Liberty!

Nothing helps us get the job done more than the financial support of our members, from just $2/month!

JOIN TAC

01

The 10th Amendment

History, meaning, and purpose - the "Foundation of the Constitution."

10th Amendment

03

Nullification

Get an overview of the principles, background, and application in history - and today.

nullification