Senate Majority Leader Schumer urging DOE to approve $700 million loan to IM3NY, page-5

Interesting that Senator Schumer has chosen this moment in time to link himself so explicitly to the US$700m loan application by iM3NY. Whilst he has been a strong company supporter to date, linking to the loan application I think is a first, and suggest he has high confidence in that loan being forthcoming.

My interpretation is he is speaking out now to ensure that linkage is firmly established between himself and this loan application, such that he can maximise political capital when the loan is announced / approved. Much better to do this in in advance than try and claim credit in the noise of an announcement. Timing of this linkage also suggests an announcement on the loan is getting very, very close.