For Immediate Release

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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."

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