In the American Recovery and Reinvestment Act, the Senate originally introduced $50 billion in loans for the nuclear industry but that was later removed when the final bill was signed. The final bill did allocate $2 billion to the Department of Energy to support nuclear research and fusion energy projects. In February 2010, the Obama administration announced that it will allocate $8.3 billion in loans to build three domestic nuclear reactors.
The U.S. Department of Energy last year had the authority to grant $18.5 billion in loans for the construction of new nuclear power plants. Obama originally proposed a $36 billion increase on top of this number for 2011 – money that would be re-allocated from oil and natural gas subsidies over a 10-year period. Obviously, these investments will have to be reexamined, given the current public concern over the safety of nuclear power.
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