Urgent! Ask House Members to Support Markey-Pearce Amendment to Block Taxpayer Bailout of Uranium Enrichment Company

Update, May 18, 2012. The vote on the Markey-Pearce amendment took place this morning; unfortunately it was defeated 299-122. Apparently all those Reps who hate government spending don't really hate it when it comes to bailing out out the nuclear power industry (we're looking at you, Speaker Boehner....)

May 17, 2012

The fiscal year 2013 National Defense Authorization Act (NDAA) currently includes a $150 million taxpayer bailout for the U.S. Enrichment Corporation, which operates a uranium enrichment plant at Paducah, KY and wants to build a new plant in Portsmouth, OH.

USEC is a failing corporation. Its stock prices are trading at less than $1 per share, causing the New York Stock Exchange earlier this week to threaten to delist it. Its bond rating is at junk bond status. The entire company may not be worth even the $150 million.

Yet this bailout would be only the first step; USEC is also trying to get a $2 Billion taxpayer loan for the Portsmouth project, which already has been fraught with problems.

Reps. Ed Markey (D-Mass.) and Steve Pearce (R-NM) have teamed up to offer an amendment that would strip this $150 million bailout from the NDAA bill. It will be voted on by the full House late today or tomorrow.

Please e-mail your House members below and urge them to support the Markey/Pearce amendment to the NDAA bill. Then, please take a moment to call your member with the same message (your member's phone number will appear before you send your e-mail--please write it down and call).

Background Information

Letter from conservative taxpayer groups and enviromental organizations in favor of the Markey-Pearce amendment

Factsheet on uranium enrichment and loan guarantees from our friends at National Taxpayers Union

Note: You must have a U.S. address to participate in this action.