As we posted yesterday , the Fiscal Year 2011 Energy and Water Appropriations Bill mark-up scheduled in the Subcommittee was postponed .  Now, Congressional Quarterly reports this morning that nuclear power proponent Rep. Chet Edwards (D-TX) blames the bill’s delay on the omission of $36 billion in taxpayer-backed loan guarantees for nuclear reactors.

The Department of Energy already has authorization for $51 BILLION in loan guarantees , including $18.5 billion for nuclear reactors, the majority of which still available.  This  in spite of the fact these loans have been found to have a 50% default rate and even during the height of the lending bubble even Wall Street found these projects too toxic to support. Granting any additional authority only jeopardizes additional taxpayer funds on high-risk projects.

TCS recently joined National Taxpayers Union, the George Marshall Institute, and the Non-Proliferation Policy Education Center in urging the Appropriations Committee to protect taxpayers by not increasing funding for nuclear loan guarantees in the Energy and Water Appropriations bill. 

TCS also warned against the addition of $18 billion in loan guarantees to the Emergency Supplemental Appropriations Bill.

Putting taxpayers on the hook for $36 billion more in risky nuclear loan guarantees is just plain fiscal irresponsibility.