Radioactive Loan Guarantees Get Cut
Friends of the Earth is reporting that $500 million in loan guarantees coveted by the nuclear industry were stripped from the Obama administration’s stimulus bill at the last minute. Last week, 243 environmental, consumer, and religious organizations and small businesses sent a joint letter to senators expressing their “dismay and anger” over the inclusion of the guarantees by the Senate Appropriations Committee.
As I reported yesterday the whole idea was the brainchild of Utah Senator Bob Bennett who the proceeded to voted against the stimulus package. The fact that supporters of the idea could never bring themselves to defend the chief beneficiary, the nuclear power industry, showed the political radioactivity of the idea. Yesterday, the language authorizing the expenditure was cut by House and Senate negotiators. Waste averted.