For Immediate Release
Nick Berning, 202-222-0748
Ben Schreiber, 202-222-0752
Massive Nuclear Bailout Removed From Stimulus
Loan guarantees coveted by nuclear industry’s lobbyists removed in conference committee
WASHINGTON - Legislative language authorizing up to $50 billion in loan guarantees for the nuclear industry was stripped from the economic stimulus package today. Friends of the Earth President Brent Blackwelder had the following response:
"This is a huge win-for our planet and for taxpayers who want stimulus funds to be invested wisely. The bailout in question would have thrilled nuclear industry lobbyists but done virtually nothing to stimulate the economy. Taxpayers shouldn't have to foot the bill for the nuclear industry's failures. Congressional leaders did the right thing and prevented waste by removing this bailout."
Friends of the Earth is the U.S. voice of the world's largest grassroots environmental network, with member groups in 77 countries. Since 1969, Friends of the Earth has fought to create a more healthy, just world.