Congressman Don Young Introduces Legislation to Protect Taxpayer Dollars by Holding Failed Federal Contractors Accountable
Washington, September 17, 2021
WASHINGTON, D.C. – Today, Alaska Congressman Don Young introduced the Energy Accountability Act. This commonsense piece of legislation prohibits the Secretary of Energy from issuing loan guarantees to contractors who have previously defaulted on loans for alternative energy projects. The Energy Accountability Act would protect taxpayer dollars and incentivize loan guarantee recipients to ensure that their projects are making measured progress and providing value in the development of alternative and renewable energy.
"Too often, ventures financed by the federal government have failed to be completed or produce meaningful results. In the end, it is always the taxpayers who are left to pay for mismanagement and botched execution. Alaskans know I have a long track record of supporting worthwhile alternative energy ventures, such as the Terror Lake Hydropower Project,” said Congressman Don Young. “But the fact is that without reforms, proven bad actors will continue to have access to federal capital with no oversight. This is especially troubling as we work toward the passage of bipartisan infrastructure legislation, which will make billions in funding available for alternative energy projects. We must ensure this financing is getting results for the taxpayer, which is why today, I am proud to introduce the Energy Accountability Act. My legislation is simple; if enacted, the Secretary of Energy will not be permitted to issue federal loan guarantees to applicants who have previously defaulted on their federal loans. There is real value in alternative sources like solar, hydropower, and geothermal. But if we continue to subsidize Solyndra after Solyndra, we will never secure the renewable energy needed to help power the country for years to come. I call on my friends on both sides of the aisle to support this crucial legislation."
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