They will go out there and they will get the risk. The taxpayer will get the risk. So. So a federal grant cannot be a lifeline for a failing private entity at the taxpayer's expense. My amendment requires that the Department of Transportation adopt new grant applications that asks every applicant, every business owner, guarantee controlling manager or third party operator behind them for the same information that any lender would expect to see. Tax returns, financial statements, annual revenue and profit, outstanding debts, monthly payments, ownership stakes, full names of people who are involved. (01:58–02:18)
CLAIM
Asserts that his amendment mandates the Department of Transportation to require detailed financial information from grant applicants.
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