Senate Majority Leader Harry Reid, D-Nev., says Congress eventually will restore the $1.5 billion rescinded from an Energy Department renewable-energy loan program to help pay for emergency education and Medicaid aid for states. Reid says the Energy Department can live without the money for now, noting it was awarded $20 billion in stimulus funds for renewable projects. Reid says Energy has been very, very slow in putting that money out. Senator Byron Dorgan, D-N.D., chairman of the Senate Appropriations Subcommittee on Energy and Water, says he too wants the funds replenished.
The Solar Energy Industries Association has urged Senators to oppose the rescission to a renewable energy loan guarantee program, which the group maintained would threaten $15 billion to $20 billion in investments in the industry. According to the Association, solar investors who have relied on the existence of the loan guarantee program when making their business plans and the industry's tens of thousands of employees would be left high and dry.
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