Fleming Amendment Ends Another Taxpayer Bailout
Taxpayers shouldn’t have to make up the difference when Obama stimulus loans are not paid back.
Congressman John Fleming, M.D., released the following statement after the House of Representatives approved an appropriations bill that included his amendment to stop a $3.25 billion green energy loan program:
“The Obama 2009 stimulus bill cost taxpayers about $830 billion, and much of it was wasted on growing government and administration giveaways, like a $3.25 billion loan program that put taxpayers on the hook for failed green energy projects. A company could take a government loan and walk away from a project without paying taxpayers back, even if the company remained in business. In a free market economy companies may turn to banks and investors to borrow money, but the government should not force taxpayers to be lenders, even as it gives borrowers a pass on paying back their loans.”
Note: The Fleming amendment to the Energy and Water Appropriations bill was approved late last night by a bipartisan vote of 230-194. Rep. Fleming spoke about his amendment on the House floor.
Dr. John Fleming is Chairman of the Natural Resources Subcommittee on Fisheries, Wildlife, Oceans and Insular Affairs and is a member of the House Armed Services Committee. He is a physician and small business owner and represents the 4th Congressional District of Louisiana.