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Action Alert: Stop Nuclear Add-on to Stimulus

From: Tami
Sent on: Saturday, January 31, 2009 3:50 PM

The stimulus bill in the Senate now is adding a $50-billion bailout for the nuclear industry that has already been the beneficiary of Federal loan guarantees in case things go wrong in the construction or operation. This, for an industry that can't get insurance and loans without Federal guarantees due to the risky nature of nuclear power. This is outrageous as it won't help climate change and it won't stimulate the mainstream economy. Contact your Senator(s) and/or go to one of the sites below to express your concern and hurry. This stimulus vote in the Senate is on a fast track.

Multibillion Dollar Bailout for Nuclear Industry Snuck into Senate Stimulus Proposal
Nuclear lobbyists' political contributions appeared to yield dividends this week when the Senate Appropriations Committee stealthily added a preemptive, up-to-$50-billion bailout for the nuclear industry to its economic stimulus proposal. Fortunately the bailout is not included in the stimulus bill that passed the House of Representatives.

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?Nuke loans: Perhaps the most troubling addition in the Senate bill is a provision which provides $50 billion in new loan guarantees to the Innovative Technology Loan Program. This program was created in EPACT 2005 and is predominantly focused on new nuclear power plants. The program already has 18 proposals for loan guarantees on new nuclear power plants. In addition, Coal-to-liquids facilities with at least 50% carbon capture qualify for this program.?

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