FOR IMMEDIATE RELEASE:
September 19, 2024
Contact: Press_Paul@paul.senate.gov, 202-224-4343
Dr. Rand Paul Offers Amendment to Fully Fund Veterans Benefits by Cutting DOE Waste
Senate Votes 47-47 on Dr. Paul’s Amendment
WASHINGTON, D.C. – Today, U.S. Senator Rand Paul (R-KY) offered an amendment to ensure veterans receive benefits they were promised without adding to the national debt by cutting $2.9 billion in Department of Energy (DOE) green energy loan guarantees.
Green energy loan guarantees are often known for being too risky to attract private investment. A 2015 Government Accountability Office report lists five companies that defaulted on DOE loans, including Solyndra, Fisker, Abound Solar, Beacon Power, and Vehicle Production Group, costing taxpayers a total of $807 million.
Dr. Paul spoke on the Senate floor ahead of the vote on his amendment, you can watch his floor remarks HERE and read them as prepared below.
“Washington’s fiscal recklessness is putting the American dream out of reach for millions of Americans.
“Historically high rates of inflation have made every American poorer. As families across this country struggle to put food on the table, Washington seems content to continue spending without regard to the consequences.
“But sometimes the consequences are too shameful to ignore. Congressional spending and financial mismanagement at the Department of Veterans Affairs are the latest examples, with both resulting in a $2.9 billion shortfall threatening the benefits of millions of veterans.
“Our veterans should not pay the cost for the federal government’s incompetence.
“That is why I ask the Senate to adopt my amendment, which ensures veterans receive the benefits they were promised without adding to the national debt.
“My amendment is simple. It pays for our veterans’ care by rescinding $2.9 billion in Department of Energy loan guarantees.
“The American taxpayer should not be asked to subsidize companies with vast resources to gamble on energy projects that the private sector finds too risky to invest in.
“Unsurprisingly, these gambles taken by the Department of Energy’s Loan Programs come at an exorbitant cost. A 2015 Government Accountability Office report reveals the extent of the Department of Energy’s loan program failures.
“That report lists five companies that defaulted on similar Department of Energy loans, including Solyndra, Fisker, Abound Solar, Beacon Power, and Vehicle Production Group, costing taxpayers a total of $807 million.
“Unfortunately, the VA’s shortfall was just as foreseeable as the failures of Department of Energy loans. The VA has been overwhelmed, receiving more than 2.4 million claims applications in 2023—the most ever, and 39 percent higher than in 2022.
“You may recall that I stood here on the Senate floor and warned that the PACT Act would put veterans’ benefits at risk by creating presumptions of service connection for the most common of ailments.
“For example, the PACT Act created a presumption of service connection for hypertension. Well, the CDC estimates that 116 million Americans have hypertension. 50% of men and 44% of women have hypertension. In fact, more than 60% of people over the age of 60 have hypertension.
“Including hypertension as a trigger for benefits broadens the category of recipients so much that it has contributed to the depletion of funds necessary for veterans suffering respiratory ailments and cancer secondary to inhalations of toxins.
“Because of Congress’s inability to make difficult decisions, precious resources that ought to go to veterans exposed to toxic substances are at risk of going up in smoke.
“Congress must also take its oversight responsibilities seriously and hold the VA accountable for fiscal mismanagement and corruption.
“In fiscal year 2023, the VA issued $3 billion in improper payments—meaning the VA sent payments to the wrong people or in the wrong amount. Over the past three years, it is estimated that such improper payments exceed $10 billion.
“In May 2024, the VA’s inspector general reported the department improperly awarded over $10 million in incentives to senior executives in the VA’s central office.
“These are resources that could have been devoted to veterans’ benefits. Instead, the VA shamefully squandered them.
“It is high time the Members of this body face the incontrovertible fact that Congress’s reckless spending has awful consequences. We have seen it in the form of inflation, which has made all Americans poorer. And now we see that overspending threatens the benefits we promised our veterans.
“We must use these failures as a warning. We must get serious about our spending and oversight responsibilities. I encourage my colleagues to vote for my amendment as a first step to ensure our veterans receive the care they deserve.”
You can read Dr. Paul’s amendment HERE.
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