Coons

Moran

The bipartisan Financing Our Futures Act, which expands certain financing tools to all types of energy resources and infrastructure projects, was reintroduced to the U.S. Senate on February 20 by Sens. Jerry Moran (R., Kan.) and Chris Coons (D., Del.).

Via amendment to the Internal Revenue Code, the legislation would allow advanced nuclear energy projects to form as master limited partnerships (MLPs), a tax structure currently available only to traditional energy projects.

An MLP is a business structure that is taxed as a partnership but the ownership interests of which are traded like corporate stock on a market. Until the Internal Revenue Code is amended, MLPs will continue to be available only to investors in energy portfolios for oil, natural gas, coal extraction, and pipeline projects that derive at least 90 percent of their income from these sources. This change would take effect on January 1, 2026.

A bill being considered in the U.S. Senate seeks to remove the requirement for the Nuclear Regulatory Commission to hold a public hearing for every nuclear reactor application.

Current law requires public hearings to be held by the NRC toward the end the reactor license application process, in addition to the statutorily required environmental and safety reviews that provide public engagement opportunities for stakeholders and citizens.

Coons

Budd

A bipartisan coalition of 15 senators led by Sens. Ted Budd (R., N.C.) and Chris Coons (D., Del.) is backing a resolution declaring that “in order to maintain geopolitical energy leadership, reduce carbon emissions, and enhance the energy security of the United States, the Senate is committed to embracing and promoting nuclear power as a clean baseload energy source necessary to achieve a reliable, secure, and diversified electric grid.”

The resolution, S. Res. 321, was introduced July 27 and referred to the Energy and Natural Resources Committee.

Fellow fission fans: Cosponsors of S. Res. 321 include Sens. Cory Booker (D., N.J.), Sherrod Brown (D., Ohio), Kevin Cramer (R., N.D.), Mike Crapo (R., Idaho), Lindsey Graham (R., S.C.), Mark Kelly (D., Ariz.), Joe Manchin (D., W.Va.), Pete Ricketts (R., Neb.), Jim Risch (R., Idaho), Kyrsten Sinema (I., Ariz.), Thom Tillis (R., N.C.), Mark Warner (D., Va.), and Roger Wicker (R., Miss.).

Manchin

Barrasso

A bipartisan group in the Senate is making another attempt to ban Russian uranium with the introduction of S. 763, the Reduce Russian Uranium Imports Act, after similar legislation introduced in the previous Congress just under one year ago by Sen. John Barrasso (R., Wyo.) failed to advance.

Debuting March 9, the new bill is sponsored by Barrasso and Sens. Joe Manchin (D., W.Va.), Jim Risch (R., Idaho), Martin Heinrich (D., N.M.), Cynthia Lummis (R., Wyo.), Chris Coons (D., Del.), and Roger Marshall (R., Kan.). Specifically, S. 763 calls for prohibiting “the importation into the United States of unirradiated low-enriched uranium that is produced in the Russian Federation or by a Russian entity.”

A bipartisan group of senators sent a letter last week to Scott Nathan, chief executive officer of the U.S. International Development Finance Corporation (DFC), urging the agency to begin financing nuclear energy projects and support the continued development and deployment of advanced nuclear technology.

Signing the December 8 letter were Sens. John Barrasso (R., Wyo.), Cory Booker (D., N.J.), Shelley Moore Capito (R., W.Va.), Ben Cardin (D., Md.), Chris Coons (D., Del.), Kevin Cramer (R., N.D.), Joe Manchin (D., W.Va.), Lisa Murkowski (R., Alaska), and Jim Risch (R., Idaho).

Moran

Coons

Sens. Chris Coons (D., Del.) and Jerry Moran (R., Kan.) late last month reintroduced legislation to give investors in clean energy projects, including advanced nuclear, access to a tax advantage currently available only to fossil fuel investors. The bipartisan bill, the Financing Our Energy Future Act (H.B. 1034), was initially introduced in June 2019.

The measure would enable clean energy companies to form master limited partnerships (MLPs)—business ventures that combine the tax benefits of private partnerships (where profits are taxed only when investors receive distributions) with the liquidity of publicly traded companies. By statute, MLPs are currently available only to investors in energy portfolios for oil, natural gas, coal extraction, and pipeline projects.