GOP watchdogs... raised questions about the deal last fall.
“This announcement is a victory for taxpayers and steel manufacturers in Indiana,” he said in a statement. “The Severstal loan commitment never passed the sniff test, as multiple producers are already manufacturing this high strength steel without taxpayer financing.”
The rejection of the Severstal financing also comes amid wider GOP criticism of DOE loan and loan guarantee programs following the collapse of solar panel manufacturer Solyndra last year.
