A $2,500 electric office equipment guarantee is out of reach for millions of Americans
Posted October 08, 2018 12:27:08 The Obama administration has signed off on a $2.4 billion loan guarantee to electric utilities for the construction of a new electric-powered office equipment factory in Connecticut.
The $2 billion loan, known as the National Electric Supply Guarantee, was approved by the Department of Commerce and Treasury on Monday.
The company is building the plant in Stamford, Connecticut.
The loan guarantee will cover the cost of constructing the plant and providing financing for the project.
According to the White House, this is the first time in American history that electric-power plants have been built without the support of a federal loan guarantee program.
The loan guarantee comes as states and municipalities across the country grapple with an energy crisis and mounting public debt.