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Witnesses tell House subcommittee that reported staff cuts imperil DOE loan office’s ability to manage loans
Summary
At a House Science Subcommittee hearing, witnesses and members warned that recent voluntary departures and reported staffing reductions at the Department of Energy’s Loan Program Office could undermine its ability to monitor and underwrite a large, rapidly expanding portfolio of loans and loan guarantees.
At a House Science, Space, and Technology Committee Subcommittee on Energy hearing, witnesses warned that reported departures and voluntary resignation offers at the Department of Energy’s Loan Program Office (LPO) threaten the office’s ability to manage its existing portfolio and issue new loans.
Sam Walsh, former general counsel of the U.S. Department of Energy, said reports that roughly half of LPO staff have opted to leave so far and that further departures could “cause serious harm to the ability of the program to fulfill the goals” it was given and to manage the loans it already holds.
The concern was echoed by the subcommittee’s members. Ranking Member Zoe Lofgren (D-Calif.) told the panel she was “very concerned” by reporting that staffing could fall…
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