Two years after the economic stimulus law, about one-third of the money authorized for an energy efficiency program has not been spent, a government audit found. Hit the jump to read the rest of the story.
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The Energy Department’s inspector general said state and local governments have left as much $879 million unspent from a $2.7 billion program intended to boost energy efficiency and create jobs. That is a big change from a year ago, when less than 10 percent of the grant money had been spent, but is far below what the Obama administration projected when the stimulus was approved in 2009.
Inspector General Gregory Friedman said the unspent money undermines a basic premise of the stimulus law: “to promptly stimulate the economy and create jobs.â€
The report came as President Barack Obama prepared for a major speech on jobs Thursday to a joint session of Congress. He is considering a plan totaling about $300 billion in tax cuts and spending for 2012, people familiar with the plan told The Associated Press. The package is designed to increase consumer demand, speed up infrastructure construction and spur hiring.
The report on the DOE’s energy efficiency program found that less than $1.4 billion of the $2.7 billion allocated for the Energy Efficiency and Conservation Block Grants program has been spent as of last month. Another $500 million had been committed by state and local governments but not spent, the report said.
Even so, that leaves $879 million unspent and uncommitted, a full two years after the stimulus law was approved. The program is designed to help states, territories, local governments and Indian tribes improve their energy efficiency and reduce fossil fuel emissions, through projects such as retrofitting buildings.