- The Biden administration rushed $93 billion in loans from Energy Department in final 76 days, doubling past 15 years’ totals.
- Loans were approved with no business plans under the previous administration, prompting calls for investigations into misuse of taxpayer funds.
- Sen. John Kennedy condemns “shoveling” funds as “stealing” and urges accountability for waste.
- The Trump administration vows to cut bureaucracy, root out fraud and tighten federal spending controls.
A jaw-dropping $93 billion in taxpayer-funded loans was rushed through the Department of Energy (DOE) in the final 76 days of Joe Biden’s presidency, with Energy Secretary Chris Wright testifying such funds lacked proper oversight, business plans or even proof of financial viability. The controversial loans — twice as much as awarded in the prior 15 years combined — have ignited bipartisan fury over what critics call an audacious end-of-tenure “bailout binge.”
Sen. John Kennedy (R-La.) — who grilled Wright during a Senate hearing — called the spree “disgusting,” comparing the taxpayer dollars to “ditch water” and accusing Biden officials of “shoving money out the door to unqualified recipients.” The loans, approved under the Infrastructure Investment and Jobs Act, funded projects ranging from renewable energy to grid resilience efforts, but many lacked basic due diligence.
“Entities that provided no business plan, no numbers about their financial solvency — we gave those groups taxpayer loans?” Wright confirmed under questioning, adding that the frantic rush “undermined confidence” in government.
“Shovel-ready” or sham deals? The rush to oblivion
The $93 billion in DOE loans — part of a $10.5 billion grid resilience program — were issued in just over two months, sparking immediate scrutiny. Inspectors general reports highlighted systemic failures: insufficient staffing to vet applications, lax compliance standards and a culture of expediency.
Wright revealed that some loan recipients submitted “half-baked ideas” or promises to create plans later. “A number of those were funded,” he confirmed, adding that improper lending occurred even before Biden’s final weeks.
Sen. Kennedy fumed, “They were spending money like it was free, but every dollar costs Americans. This isn’t stimulus — it’s thievery.”
Why now? Political panic or cronyism?
The timing of the loan surge has fueled speculation about political motives. Former Biden appointees have been linked to companies receiving funding, though the administration denies impropriety.
Rep. Jim Jordan (R-Ohio), a key oversight figure, noted, “$7 trillion in deficits and trillions in wasted stimulus show this isn’t an accident. It’s a pattern of misuse.”
Wright, a holdover from the Biden team, acknowledged that projects were fast-tracked without scrutiny. “It wasn’t done in many cases,” he admitted, criticizing the “recklessness” of his own department’s leadership.
The scandal resonates with broader GOP frustrations over Democrats’ spending habits. “Why $93 billion in two months? Because they wanted to lock in deals before an audit could begin,” argued Rep. Kevin McCarthy’s office, which has pushed for separate spending bills to curb such “end-of-tenure giveaways.”
The path ahead: Accountability or amnesia?
Energy Secretary Wright pledged to “separate the wheat from the chaff” and root out fraudulent loans, even as Republicans demand criminal investigations. Biden’s replacement, President Donald Trump, has framed the scandal as proof of systemic misconduct.
“This isn’t just about money. It exposes a bureaucratic machine incapable of fiscal responsibility,” Trump declared in a speech, citing the parallels between the DOE’s rush and abuses in the now-infamous “Outdoor Monuments” scheme.
For Sen. Kennedy, the scandal underscores a deeper rot: “If these folks can steal $93 billion in plain sight, how much more did they take we’ll never see?”
A moment of reckoning
The DOE scandal is the latest chapter in a now-familiar narrative of Washington excess. As Sen. Kennedy asked, “Where’s the accountability?” With voter fraud debates heating up and investigations into Biden allies ongoing, the question — paired with $93 billion in shadows — may define the 2026 midterms. In an era of trillion-dollar deficits, few expect pennies to be found in that trough.
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