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I wonder what the legal basis of the loan is. Congress controls the money; what authorization does the executive branch have for loaning $1 billion?
by mmooss 1y ago
I wonder what the legal basis of the loan is. Congress controls the money; what authorization does the executive branch have for loaning $1 billion?
- zdragnar 1y agoIt's right in the article: > The debt facility is being made through the Department of Energy’s Loan Programs Office (LPO), which was formed under the Energy Policy Act of 2005 to foster the growth of clean energy technologies and, more importantly: > The Inflation Reduction Act, which passed during the Biden administration, created another pot of money under the LPO known as the Energy Infrastructure Reinvestment program. That program was created to restore existing power plants to operation provided they avoid or reduce pollutants or greenhouse gas emissions. The Trump administration kept it largely in tact, rebranding it the Energy Dominance Financing Program.
- imgabe 1y agoIt's in the article. > The debt facility is being made through the Department of Energy’s Loan Programs Office (LPO), which was formed under the Energy Policy Act of 2005 to foster the growth of clean energy technologies. > The Inflation Reduction Act, which passed during the Biden administration, created another pot of money under the LPO known as the Energy Infrastructure Reinvestment program. That program was created to restore existing power plants to operation provided they avoid or reduce pollutants or greenhouse gas emissions. The Trump administration kept it largely in tact, rebranding it the Energy Dominance Financing Program. Congress passed the Energy Policy act of 2005 and then the Inflation Reduction Act allocating money to the DoE to make these loans.
- int0x29 1y agoLooks like this falls under existing congressionally appropriated spending for the DOE
- aaronbrethorst 1y agoLearn all about it from the guy who ran the office in the last administration! https://www.ms.now/msnbc-podcast/msnbc/discussing-explosion-green-tech-jigar-shah-podcast-transcript-rcna141446 https://www.ms.now/msnbc-podcast/msnbc/discussing-explosion-...