8/11/2010

President Barack Obama on Tuesday signed into law a $26 billion emergency state-aid package, partially funded by diverting $1.5 billion from the Department of Energy's loan-guarantee program for renewable energy. Five alternative-energy groups told House Speaker Nancy Pelosi, D-Calif., in a letter that taking money from the loan-guarantee fund, on top of the $2 billion that was borrowed in 2009 to help pay for the "Cash for Clunkers" program, would undercut federal support for renewable energy.

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