Posts Tagged ‘federal loan guarantees’

The planned $15 billion expansion of the Comanche Peak nuclear power plant suffered a critical funding setback in Congress this week when cuts in the House-passed version of the federal spending bill eliminated loan guarantees that Dallas-based Luminant have said were vital to the plan’s viability.

Republicans who pledge even more budget-cutting will take control of the House and most observers expect that efforts to increase spending on such things as nuclear plant expansions will face even greater obstacles.

Under intense public pressure to slash spending, the House cut the level back to $7 billion in the catch-all government spending bill known as a continuing resolution.  The U.S. Senate will vote on the spending bill next week, and it is not clear whether lawmakers who support the loan guarantee program will make an effort to boost the funding before Congress adjourns before Christmas.

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Just last night the House and Senate came to agreement: a $789 billion Stimulus Package with no traces of nuclear pork! The $50 billion in federal loan guarantees that could have been used by nuclear and coal industries have been carved out.No Nuclear Pork

Thank you, Legislators, for finally seeing that the nuclear sector will not contribute to jobs, nor is it a better alternative for the environment!

Kevin Kamps from Beyond Nuclear says:

This monumental waste of money had to end. The nuclear energy industry cannot solve the climate crisis and fattening the nuclear calf has deprived real energy solutions like renewable energy and energy efficiency programs from essential support for decades.

And a double fist pump for all of the 243 environmental, consumer, and religious organizations that rallied together and sent a joint letter to Senators stating their “dismay and anger over the inclusion by the Senate Appropriations Committee of a provision in the economic stimulus bill to provide up to $50 billion in additional taxpayer loan guarantees that could be used for construction of new nuclear reactors and ‘clean coal’ plants.”

No more nuclear pork!

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