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Victory! $50 Billion for Toxic Nuclear Pork Cut from Stimulus Bill

Victory! $50 Billion for Toxic Nuclear Pork Cut from Stimulus Bill
Beyond Nuclear 13 Feb 09
Congressional negotiators in the House of Representatives and the Senate agreed late Wednesday evening (February 11) on a $789 billion stimulus bill but killed an attempt to squander $50 billion on new nuclear reactors. The agreement, made in the conference committee, axed a proposal from Sen. Robert Bennett (R-Utah) to include $50 billion in pork barrel federal loan guarantees for the nuclear industry. The Congressional Budget Office stated earlier this year that nuclear utilities would default on more than 50% of the loans, leaving taxpayers and ratepayers to foot the bill.”This is a big victory for common sense and the American taxpayer,” said Kevin Kamps of Beyond Nuclear who helped lead the campaign on Capitol Hill to cut the $50 billion for nuclear power. “This toxic nuclear pork had no place in a bill designed to put Americans back to work and and salvage our economy. Our legislators are to be applauded for getting their priorities right and saying no to yet another blatant attempt to prop up an industry that has never stood on its own financial feet.”The nuclear industry has received an estimated $500 billion in public subsidies over the past half century,” Kamps continued. “This monumental waste of money had to end. The nuclear industry cannot solve the climate crisis and fattening the nuclear calf has deprived real energy solutions like renewable energy and energy efficiency programs of essential support for decades.”

Beyond Nuclear

February 13, 2009 - Posted by Christina Macpherson | business and costs, USA