Issa Statement on ATVM Loan Program Renewal

Washington, D.C. – House Oversight and Government Reform Committee Chairman Darrell Issa (R-Calif.) today made the following statement on the Department of Energy’s decision to renew their Advanced Technology Vehicles Manufacturing (ATVM) loans program:

“Despite the Energy Department’s appalling track record of loan programs, which put taxpayer money on the line to fund junk bond rated companies, this administration will do anything to shove their ideology driven policy forward. Even if it means doubling down on failed programs like this one,” said Chairman Issa. “This program gives administration officials another chance to dole out hundreds of millions to its friends, or even Russian oligarchs, under the guise of green energy at a time when our country is facing a dire fiscal situation.”

The Oversight Committee released a report on March 20, 2012 detailing various problems with the ATVM loan program, along with other DOE Green Energy programs.