FA_Q2
Gold Member
Another private industry success story.
Nice.
Private industry? Welllll-----well they are now, thanks to; "authorized by Congress, signed by President George W. Bush, and awarded under President Obama."
Tesla Motors has done right by U.S. taxpayers.
The fast-growing electric car company has repaid the entire $465 million loan it received from the U.S. Department of Energy, in a vindication for company co-founder Elon Musk, the billionaire mogul and rocket-ship enthusiast. The loan repayment, made nine years ahead of schedule, was completed Wednesday when Tesla wired $451.8 million to the federal government.
Teslas loan was part of the governments 2010 Advanced Technology Vehicle Manufacturing Program, a $25 billion fund authorized by Congress, signed by President George W. Bush, and awarded under President Obama. The loan program, which was separate from the U.S. auto bailouts to GM and Chrysler under the Troubled Asset Relief Program (TARP), was designed to get fuel-efficient vehicles to consumers faster.
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That does not change the fact that this was a private company crating this. A loan does not make it a government accomplishment. Most here do not have a problem with government making common sense loans that do not appear political ploys or payoffs.