Ranking Members Waxman and DeGette Release Memo on Inaccuracies in Republican Solyndra Loan Guarantee Report

Aug 2, 2012

Today Energy and Commerce Committee Ranking Member Henry A. Waxman and Oversight and Investigations Subcommittee Ranking Member Diana DeGette released a memo written by the Democratic staff noting inaccuracies and omissions in a Republican staff report on the Solyndra loan guarantee.  The partisan, one-sided report, which was not shared with Democratic staff in advance, mischaracterizes the Committee record, including information from Administration officials on the Solyndra loan guarantee.

“The Republican report released today is a political document, not an accurate portrayal of the facts uncovered by the Committee in its investigation of the Solyndra loan guarantee,” said Reps. Waxman and DeGette.  “It cherry picks documents, omits important exculpatory evidence, and contains unsubstantiated insinuations.  Republican politicians have spent over a year making wild allegations that the Solyndra loan was influenced by campaign contributions.  There is not a shred of evidence to support these inflammatory accusations.” 

The memo highlights four major deficiencies in the Republican report:  (1) false insinuations that Solyndra decisions were influenced by political contributions; (2) misleading assertions about Solyndra’s economic prospects; (3) incorrect claims about the role of time pressure in the decision-making process; and (4) mischaracterization of OMB’s role in the loan restructuring. 

The memo is available online here.