Unlimited tax-payer-backed loan guarantees for construction of new nuclear reactors? That's right, unlimited !! Hundreds of billions of dollars--as much as the nuclear industry wants, when it wants, for as long as it wants.
The New Energy Reform Act of 2008, which is expected to come up in the Senate late this week, would be the biggest giveaway to the nuclear power industry ever. Nuclear power has a long history of utility loan defaults and cost-overruns. In 2003, the Congressional Budget Office concluded that the risk of loan default by industry would be "well over 50%". Unlimited loan guarantees for the nuclear industry will put billions of U.S. taxpayers' dollars at serious risk.
Please take a moment to let you Senators know that unlimited loan guarantees for nukes are unacceptable.
After 50 years of massive federal taxpayer subsidies, enough is enough!
After 50 years of massive federal taxpayer subsidies, enough is enough!
To contact your Senator, click on: http://www.senate.gov/general/contact_information/senators_cfm.cfm
and then click on your state's name for your senators. You can phone or send an email on the email form.
For more information on loan guarantee program, click on: http://www.citizen.org/documents/LoanGuaranteeBackgrounder.pdf
For more information on nuclear subsidies, click on: http://www.nirs.org/neconomics/nuclearsubsidies2008.pdf
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