Stabenow supports green energy subsidies despite A123 bankruptcy
U.S. Senator Debbie Stabenow is defending federal subsidies to promote green energy and advanced manufacturing businesses.
The loans, grants, and tax credits were part of the federal economic recovery package.
A company that got a quarter-billion dollar grant declared Chapter 11 bankruptcy this week. A123 employed hundreds of people in Michigan at facilities in Livonia, Romulus, and Ann Arbor.
Stabenow said the subsidies remain an important part of national energy and economic policy—even if some of the investments don’t pan out.
“We cannot afford to have China or Germany, on the other end that’s trying to out-compete us, win those battles, so that we go from foreign dependence on advanced batteries, wind, or solar,” she said.
Stabenow appeared on a statewide public radio call-in show today. The Democrat is seeking a third Senate term this year.
Her Republican opponent is former Congressman Pete Hoekstra.
He says the failure of A123 is evidence that the federal government should not be betting on the success or failure of specific companies or industries.