WASHINGTON -- The House has passed legislation that would provide $7 billion in new loan guarantees for nuclear power plant construction.
The money was approved as part of a $1.2 trillion spending bill that passed the House Wednesday night.
The $7 billion in loan guarantees is just a fraction of the $36 billion that President Barack Obama requested earlier this year. But Steve Kerekes, a spokesman for the Nuclear Energy Institute trade group, says the $7 billion "works in the short term."
In February, the Obama administration awarded $8 billion in loan guarantees for Southern Co. to build a pair of reactors in Burke County, Ga.
The $7 billion in loan guarantees is just a fraction of the $36 billion that President Barack Obama requested earlier this year. But Steve Kerekes, a spokesman for the Nuclear Energy Institute trade group, says the $7 billion "works in the short term."
In February, the Obama administration awarded $8 billion in loan guarantees for Southern Co. to build a pair of reactors in Burke County, Ga.
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/09/AR2010120902301.html
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