GOP 'No More Solyndras' Bill Would Curb Clean Tech Loans

Law360, New York (July 10, 2012, 1:47 PM EDT) -- House Republicans unveiled legislation Tuesday to phase out the U.S. Department of Energy's loan guarantee program — a reaction to the collapse of solar panel maker Solyndra LLC, which went bankrupt after receiving a $535 million DOE loan guarantee.

The No More Solyndras Act, introduced by heads of the House Energy and Commerce Committee, aims to prevent the federal government from issuing loans to clean technology companies under two stimulus programs Republicans claim have been marred by waste and mismanagement.

The DOE has issued more than...
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