{"id":1588293,"date":"2022-08-04T08:20:42","date_gmt":"2022-08-04T12:20:42","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1588293"},"modified":"2022-08-04T08:20:45","modified_gmt":"2022-08-04T12:20:45","slug":"inflation-reduction-act-includes-30-billion-for-nuclear-reactors-at-risk-of-shutdown","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/inflation-reduction-act-includes-30-billion-for-nuclear-reactors-at-risk-of-shutdown\/","title":{"rendered":"Inflation Reduction Act Includes $30 Billion for Nuclear Reactors at Risk of Shutdown"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finflation-reduction-act-includes-30-billion-for-nuclear-reactors-at-risk-of-shutdown%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1588293&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The <a href=\"https:\/\/www.theepochtimes.com\/t-inflation-reduction-act\">Inflation Reduction Act<\/a>\u00a0(IRA) of 2022 will help to finance struggling\u00a0nuclear reactors and could save dozens from being shut down early thanks to a\u00a010-year production tax credit.<\/p>\n<p>The $433 billion IRA, which was\u00a0negotiated chiefly by U.S. Sen. Joe Manchin (D-W.Va.) with Senate Majority Leader\u00a0Chuck Schumer\u00a0(D-N.Y.), has been touted by Democrats as a way to fend off rising inflation, trim\u00a0the federal deficit, and reduce carbon emissions while bolstering investments in\u00a0domestic energy production and manufacturing.<\/p>\n<p>It seeks to spend around\u00a0$369 billion toward\u00a0energy and climate programs over the next 10 years, and\u00a0Democrats project that it will raise $739 billion in new revenue.<\/p>\n<p>Included in the proposed legislation is a \u201czero-emission nuclear power production credit\u201d that provides (<a href=\"https:\/\/crsreports.congress.gov\/product\/pdf\/R\/R47202\">pdf<\/a>)\u00a0up to 0.3 cents per kilowatt-hour (kWh)\u00a0for energy produced from a zero-emission nuclear power facility, starting in 2024 and ending in 2032.<\/p>\n<p>The proposed $15 per megawatt-hour credit for existing nuclear plants is\u00a0estimated to cost\u00a0$30 billion over a 10-year-period, Bloomberg reported, but will gradually decrease as power prices rise above\u00a0$25 per megawatt-hour, according to the\u00a0<a href=\"https:\/\/www.theepochtimes.com\/t-nuclear\">Nuclear<\/a> Energy Institute, which <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-08-03\/machin-deal-tosses-30-billion-lifeline-to-us-nuclear-reactors\">told Bloomberg<\/a> that the credit program is a \u201chistoric step forward in addressing the economic hurdles our carbon-free nuclear plants have been facing.\u201d<\/p>\n<p>Such a credit program could help President Joe Biden in meeting his\u00a0ambitious climate goals, which include reaching\u00a0net zero emissions economy-wide by no later than 2050.<\/p>\n<p>The bill is expected to be voted on by Senate\u00a0lawmakers in the coming weeks.<\/p>\n<p>However, while Democrats are hopeful the IRA will help bring some relief to a buckling\u00a0U.S. economy, critics are questioning whether it can achieve any of the goals it has laid out.<\/p>\n<p>\u201cThis bill shouldn\u2019t pass and become law. It\u2019s going to cause a lot of pain for the American people,\u201d Sen. John Barrasso (Wyo.) told The Hill on Tuesday. \u201cI don\u2019t care about what pain it may cause<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Inflation Reduction Act\u00a0(IRA) of 2022 will help to finance struggling\u00a0nuclear reactors and could save dozens from being shut down early thanks to a\u00a010-year production tax credit. The $433 billion IRA, which was\u00a0negotiated chiefly by U.S. Sen. Joe Manchin (D-W.Va.) with Senate Majority Leader\u00a0Chuck Schumer\u00a0(D-N.Y.), has been touted by Democrats as a way to fend [\u2026]<\/p>\n","protected":false},"author":69,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1588293","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1588293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/69"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1588293"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1588293\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1588293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1588293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1588293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}