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“A bailout for existing reactors is wrong for the climate and wrong for consumers,” said Lukas Ross, program manager at Friends of the Earth, a progressive environmental group based in Washington. “Congress and the Biden administration should not throw good money after bad investments.” A tax credit for nuclear plants could be a boon for nuclear operators such as Southern Co. and Exelon Corp., as well as for uranium miners like Lakewood, Colorado-based Energy Fuels, Inc. It has been endorsed by both congressional Republicans, as well as the Trump administration, which sought ways to help the nuclear industry. Backers include the Nuclear Energy Institute, which has for years sought a tax credit for nuclear, and last year said a 30% investment tax credit was needed to help the industry weather “severe financial strain” wrought by the pandemic.

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