Roby Comments on $528 Million Federal Loan Approved for Failed Solar Company

September 14, 2011
Press Release

U.S. Representative Martha Roby comments on the recent reports that state that the White House pushed approval for a $528 Million loan to Solyndra, a company now under investigation.

“According to news reports, officials in the Obama administration pressured government accountants to rush their final review on a questionable government loan to a solar power energy company that the Administration had repeatedly championed. Despite concerns, the White House apparently wanted the loan approved so that the Vice President could announce the award at a press event. Now we know the rest of the story: the loan was granted, the company went bankrupt and subsequently failed, and taxpayers are left holding $528 million in debt.

“The House of Representatives will soon hold hearings on this matter. If these allegations are true, it raises very serious questions about what, if any, pressure the White House exerted on the many billions of stimulus dollars that federal agencies have distributed over the last few years.

“Our nation is deeply in debt, and we must ensure that every penny is put to good use. It is infuriating to think that dollars may be redirected to inappropriate projects due to political pressure, rather than going to areas that would most help grow the economy and create jobs. This is the sort of mismanagement that has disillusioned the American people, and we must put a stop to it,” said Rep. Roby.