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Group: Senate Climate Bill Holds Billions in Tax Breaks for Nuclear Industry

HeadlineJun 18, 2010

A new analysis says the Senate climate bill would deliver even more financial incentives to the nuclear power industry than previously thought. According to Friends of the Earth, the measure stands to add an additional $1.3 billion to $3 billion in tax breaks for every new nuclear reactor. The tax breaks come on top of the measure’s proposed $35.5 billion in loan guarantees for nuclear power. In a statement, Friends of the Earth president Erich Pica said, “The [nuclear] industry would be at the table playing almost entirely with taxpayer money… [with] little to lose when a reactor goes belly up.” Democratic Senator John Kerry and Independent Senator Joe Lieberman are the bill’s co-sponsors. Earlier this week, Kerry and Lieberman both came under criticism from environmentalists for voting against a proposal that would have repealed $35 billion in tax breaks for big oil corporations.

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