American Forum

The recent acceptance of $8.3 billion in taxpayer-backed loan guarantees by the builders of the Vogtle nuclear reactors seems like good news for Georgia electric customers. Nationwide taxpayers will now share in the costs and risks that had been on the shoulders of the customers of the utilities building the two reactors.

But don’t celebrate too soon.

There are more loan guarantees in the pipeline — a total of $54.5 billion, none for Georgia reactors. These guarantees mean that you and I will repay the lender if the project cannot. The $54.5 billion would amount to an exposure of more than $500 for every American family. Some in Congress want unlimited nuclear loan guarantees, which translate to unlimited taxpayer exposure.