Coalition of taxpayer and conservative groups oppose risky nuclear loan guarantee expansion

Taxpayers for Common Sense, the Non-Proliferation Policy Education Center, the Competitive Enterprise Institute, and the National Taxpayers Union have warned Congress: "Putting the full faith and credit of the U.S. government behind costly, risky projects that the private sector won't finance is fiscally reckless and politically unwise. Because of the size of these nuclear reactor projects, taxpayers stand to lose more on these than any other Title XVII loan guarantee. Congress must face the reality that loan guarantees are anything but 'free money' or a wise expansion of government authority and oppose further expansion of this program." Despite this, the U.S. House of Representatives, led by retiring House Appropriations Committee Chairman Dave Obey (D-WI), narrowly approved a Continuing Resolution that in fact includes a $7 billion expansion in new reactor loan guarantees, and an additional $3 billion in expanded loan guarantees for fossil fuel industries.