Ex-Solyndra Employees Eligible For $14.3M in Federal Aid

By:  Brian Koenig
11/28/2011
       
Ex-Solyndra Employees Eligible For $14.3M in Federal Aid

Former employees of the defunct solar company Solyndra are now eligible for a combined $14.3 million in federal aid, the Labor Department announced Monday. Approved through the Trade Adjustment Assistance (TAA) program, the 1,100 employees who were laid off after Solyndra went belly up in late August are set to receive payments of about $13,000 each, which will be tacked on to the $535 million in loan guarantees that taxpayers are already on the hook for.

TAA is a federal program designed to compensate and bolster American workers who have lost their jobs due to foreign competition. The program offers a variety of reemployment services and training to help participants obtain new jobs and retain wages comparable to their prior employment.

The notion that fervent Chinese competition is the sole catalyst to American solar companies’ financial woes has been long touted by congressional Democrats and the Obama administration, particularly as Solyndra’s bankruptcy has placed them in the political hot seat. The Labor Department’s approval of the TAA aid reinforces a trade complaint directed against China by a conglomerate of U.S. solar panel manufacturers, and by granting the assistance the department has seemingly indicated that the allegations hold at least some merit.

Former employees of the defunct solar company Solyndra are now eligible for a combined $14.3 million in federal aid, the Labor Department announced Monday. Approved through the Trade Adjustment Assistance (TAA) program, the 1,100 employees who were laid off after Solyndra went belly up in late August are set to receive payments of about $13,000 each, which will be tacked on to the $535 million in loan guarantees that taxpayers are already on the hook for.

TAA is a federal program designed to compensate and bolster American workers who have lost their jobs due to foreign competition. The program offers a variety of reemployment services and training to help participants obtain new jobs and retain wages comparable to their prior employment.

The notion that fervent Chinese competition is the sole catalyst to American solar companies’ financial woes has been long touted by congressional Democrats and the Obama administration, particularly as Solyndra’s bankruptcy has placed them in the political hot seat. The Labor Department’s approval of the TAA aid reinforces a trade complaint directed against China by a conglomerate of U.S. solar panel manufacturers, and by granting the assistance the department has seemingly indicated that the allegations hold at least some merit.

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Photo: AP Images

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