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.