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Wednesday, December 12 , 2018, 3:58 pm | A Few Clouds 62º

 
 
 
 

Maldonado Calls on Capps to Support the No More Solyndras Act

Legislation would institute new taxpayer protections and greater transparency for government spending

The House Energy and Commerce Subcommittee on Energy and Power will begin consideration this week of the No More Solyndras Act.

The bill would phase out the Department of Energy’s flawed program that resulted in the federal government’s $535 million “investment” in a company that after receiving $500 million in taxpayer dollars went bankrupt resulting in significant losses absorbed by the taxpayers.

The No More Solyndras Act would institute new taxpayer protections for government spending of stimulus dollars and mandate new disclosure standards to ensure greater transparency in how the federal government appropriates taxpayer dollars.

“When Washington decides to pick winners and losers, it’s the American people who lose the most. Unfortunately for us, Lois Capps voted to support taxpayer-funded bailouts of the Wall Street banks and for the stimulus boondoggle that helped pay for Solyndra,” said 24th Congressional District candidate Abel Maldonado, R-Santa Maria. “Lois Capps now has an opportunity to correct her mistake and make sure that the hardworking taxpayers in our district won’t ever again see their money squandered by Washington’s risky investments in a company like Solyndra.

“It’s always easier to be careless with someone else’s money, but when that money belongs to the American taxpayers, Washington has a responsibility to apply the highest possible standard of transparency and accountability to ensure that the American people’s tax dollars are protected.”

Capps, D-Santa Barbara, is a member of the Energy and Power Subcommittee that will begin the mark-up of the No More Solyndras Act on Wednesday for opening statements and will reconvene on Thursday in Washington. Click here for an electronic copy of the legislation. A background memo, amendments and votes will be available at the same link as they are posted.

Click here for more information on the Abel Maldonado for Congress campaign.

— Kurt Bardella is communications director for Abel Maldonado for Congress.

 

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