David Vitter, United States Senator, Louisiana

May 15, 2012

Vitter Legislation Halts Ex-Im Bank from Financing Overseas Energy Projects

(Washington, D.C.) – U.S. Sen. David Vitter introduced an amendment to the Export-Import Bank Reauthorization bill that reforms the way the federal government loans money to energy projects. His amendment would prohibit the bank from financing oil and gas development projects in foreign countries that are similar to projects in the U.S. when there exists federal funding for those domestic projects. The amendment would also end the practice of taxpayers becoming the priority lender in bankruptcy, such as Solyndra, and ends the mandate for loans to renewable projects like Fisker.

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