16 November 2009-- Two U.S. Senators unveiled legislation aimed at building 100 nuclear power plants in 20 years and providing an additional $100 billion in loan guarantees for the research and development of low carbon sources of energy. The extra money would be in addition to the existing $47 billion loan guarantee program.
Sens. Lamar Alexander (R-Tenn) and Jim Webb (D-Va.) co-sponsored the bill. The legislation comes as Senate Democrats work to draw more support for climate legislation by crafting measures that would increase support for nuclear power and offshore drilling. This bill is separate from the climate legislation currently making its way through the Senate, said Alexander and Webb. Alexander said senators working to advance the climate bill may try to incorporate some provisions from his legislation, but that was not his intention.
Alexander does not support establishing an economy-wide, cap-and-trade system to lower carbon emissions.
In addition to the loan guarantees, the bill would provide $750 million annually for 10 years to research and develop carbon capture and storage (CCS), advanced biofuels, solar power and recycling used nuclear fuel.
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