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The Progressive

NewsWire

A project of Common Dreams

For Immediate Release
Contact:

Erin Jensen: ejensen@foe.org

 

Nuclear Lobby's Coronavirus Cash Grab is Shameless

The Nuclear Energy Institute, the industry's main lobbying arm, is

WASHINGTON

The Nuclear Energy Institute, the industry's main lobbying arm, is reportedly requesting a 30 percent tax credit for existing reactors as part of coronavirus aid.

This is the same demand that the nuclear made repeatedly last fall, well before the coronavirus. A recent independent analysis indicated that the proposal would cost the treasury $23 billion in lost revenue. Separately, the indirect cost to ratepayers would be $33 billion over 20 years, as regular consumers shoulder the burden of aging, uneconomic reactors. This proposal was previously opposed by over 60 environmental groups.

Lukas Ross, senior policy analyst with Friends of the Earth, issued the following statement in response:

Demanding a $23 gift from taxpayers during an unprecedented public health crisis sets a new low bar. The nuclear industry begged for a bailout last fall and is now using coronavirus to try and brazenly grab more cash.

This is a proposal that would hurt ratepayers and the climate at a time when immediate need for people must be the first priority. The nuclear lobby should be ashamed. This is disaster capitalism at its worst.

Friends of the Earth fights for a more healthy and just world. Together we speak truth to power and expose those who endanger the health of people and the planet for corporate profit. We organize to build long-term political power and campaign to change the rules of our economic and political systems that create injustice and destroy nature.

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