The government watchdog overseeing the Department of Energy sounded alarm bells to senators Thursday that the Inflation Reduction Act is ripe for fraud and could benefit America's adversaries.
Energy Secretary Jennifer Granholm speaks at McKinstry Aug. 15, 2023, in Seattle. The Biden administration on Oct. 18 announced $3.5 billion for 58 projects across the country to strengthen electric grid resilience. The government watchdog overseeing the Department of Energy sounded alarm bells to senators Thursday that the Inflation Reduction Act is ripe for fraud and could benefit America’s adversaries.
Ms. Donaldson continued: “That’s unfortunate, because at the end of the day, inspectors general don’t lose money — they make money. The more you audit, the more you recover.”The testimony from Ms. Donaldson, who was appointed by former President Donald Trump, echoed concerns from Republicans and Senate Energy Committee Chairman Joe Manchin III, West Virginia Democrat. They fear the $400 billion appropriated for loans to clean energy companies could increase U.S.
“I don’t know if has to direct it for that,” he told The Washington Times. “But you would think that you would have enough oversight — and as the bill has grown, the amount of money that went over there — that funds to basically make sure that we’re doing it right.” Mr. Shah said his department, which oversees and approves applications from private clean energy businesses for government loans, “has an ability to do due diligence on these projects that many private sector banks don’t have” because many of the technologies originated from prior DOE-funded ventures. He said the due diligence process takes an average of 12 months per applicant.
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