Congresswoman Virginia Foxx speaks on the floor of the House of Representatives to support the No More Solyndras Act, legislation that will defend taxpayers from future Solyndra-like funding abuses.
Thank you Mr. Speaker and Chairman Upton for yielding me time and bringing this important bill to the floor.
Mr. Speaker, the Obama Administration has failed the American people by squandering half-a-billion of their hard earned tax dollars on costly, unproven projects.
This legislation puts the breaks on the Obama Administration's habit of trying to play the role of venture capitalist with the taxpayers' money.
We need to stop the inept largesse of Big Government bureaucrats that prompted Solyndra's ex-CEO Chris Gronet to write that "The Bank of Washington continues to help us!"
That outrageous statement serves as a shining example of the disregard Solyndra had for American taxpayers, and the fact they believed our government would let them get away with it.
This legislation is needed to protect against the politically-charged, reckless spending binges that stream from this Administration.
The record-breaking spending and historical deficits that will burden future generations courtesy of this Administration need to end in order to strengthen our economy and build for a brighter future.
We need an all-of-the-above energy policy to achieve energy security, but it needs to be a responsible plan -- a plan that keeps our fiscal priorities in order and provides free-market solutions without unnecessary, job-killing government burdens.
I urge my colleagues to support this legislation.