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The Next Big Bailout: Not a Done Deal

Original post can be found at our DC “Citizen Energy” blog

President Obama wants to triple the loan program for construction of new nuclear reactors, to $54 billion.

The nuclear loan guarantee program commits taxpayers to not only underwrite risky nuclear reactor projects, but also allows wealthy nuclear utilities to borrow the money from the government’s Federal Financing Bank- funds for this bank come directly from the U.S Treasury. You might want to read that again.

If you are struggling with the absurdity of a program that allows taxpayer dollars to both guarantee and provide direct loans for billion dollar projects that the Congressional Budget Office has found will default 50% of the time, you are not alone.

On February 25th, Public Citizen and several ally organizations are calling on their members to tell Congress to stop the tripling of the nuclear loan program. The proposal to expand this ill-conceived program is not a done deal. So, please join us to stop this boondoggle. You can reach all of your Congress members at 202-224-3121.

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