US President includes nuclear in American Jobs Plan : Nuclear Policies
April 01, 2021
US President Joseph Biden yesterday announced a $ 2 trillion job, infrastructure and clean energy plan to reshape the country’s economy. Among the proposed investments to combat climate change, the US Employment Plan provides funding for the development of advanced nuclear reactors and a clean power standard to make more efficient use of and incentives for the existing US reactor fleet.
President Biden announced his American employment plan in Pittsburgh yesterday (Image: The White House)
Speaking at a carpenter union training center in Pittsburgh, Pennsylvania, Biden said, “Today I propose a plan for the nation that rewards work, not just wealth. It builds a fair economy that gives everyone the chance to thrive.” and it will create the strongest, resilient, and innovative economy in the world. It’s not a plan that tinkers with the edges. It’s a one-time investment in America, unlike anything we’ve seen or done since we built the Interstate Highway System and the Space Race decades ago. “
A White House fact sheet outlining the US employment plan states that after decades of divestment, US roads, bridges, and water systems are “collapsing”. The power grid is also prone to catastrophic failures. “It has never been more important for us to invest in strengthening our infrastructure and competitiveness and creating the well-paid union jobs of the future,” it says.
Biden’s American employment plan calls for about 1% of GDP to be invested annually over an eight-year period to improve U.S. infrastructure, revitalize manufacturing, invest in basic research and science, prop up supply chains, and sustain the nation’s care infrastructure consolidate. In total, the plan will invest around $ 2 trillion this decade.
“As the recent power outages in Texas have shown, our aging power grid urgently needs modernization,” the fact sheet says. A study by the US Department of Energy found that power outages cost the US economy up to $ 70 billion annually. “The President’s plan will create a more resilient grid, reduce energy bills for middle-class Americans, improve air quality and public health outcomes, and create good jobs with the choice to join a union towards a 100% CO2-free electricity supply by 2035. “
In his plan, Biden calls on Congress to invest $ 100 billion in building a more resilient power transmission system and creating jobs for modernizing power generation and delivering clean electricity. He proposes an extension and extension of an extended tax credit for direct payments and production tax credits for the generation and storage of clean energy by 10 years. The plan also aims to mobilize private investment to modernize the energy sector. A standard for energy efficiency and clean electricity is also being set to reduce utility bills and electricity pollution, increase competition in the market, incentivize more efficient use of existing infrastructure and reduce the carbon-free energy provided from existing sources such as nuclear power plants, continue to use and hydropower “.
Biden also calls on Congress to invest $ 35 billion in “the full range of solutions necessary to achieve technological breakthroughs that address the climate crisis and position America as the global leader in clean energy technology and jobs.” The plan will invest $ 15 billion in demonstration projects for climate and development priorities, including utility-scale energy storage, carbon capture and storage, hydrogen, advanced nuclear, rare earth element separations, offshore floating wind, biofuel / bioproducts, quantum computers and electric vehicles.
To meet Biden’s goals of net zero emissions by 2050, the U.S. will need more electric vehicles, charging points, and electric heat pumps for residential heating and commercial buildings. The plan calls on Congress to enable the manufacture of these automobiles, ports, pumps, and clean materials, as well as critical technologies like advanced nuclear reactors and fuels, in the U.S. through a $ 46 billion investment in federal purchasing power.
The president proposes a $ 174 billion investment in electric vehicles. His plan will “enable automakers to boost domestic supply chains from raw materials to parts, convert factories to compete globally, and help American workers manufacture batteries and electric vehicles.” In addition, consumers receive POS discounts and tax incentives for purchasing US-made electric vehicles. As part of the plan, a national network of 500,000 charging stations for electric vehicles will be set up by 2030.
In addition to the US employment plan, Biden suggests that corporate tax law should be designed to incentivize job creation and investment in the US, prevent “unfair and wasteful shifting of profits to tax havens” and ensure that big companies pay their fair share.
“What I’m proposing is a one-time capital investment of approximately $ 2 trillion in America’s future over an eight-year period,” said Biden. “It will generate historic job growth and historic economic growth, help companies compete internationally and generate more revenue. It will be one of the most valuable investments we can make in the nation – investments in our infrastructure.
“But to put it another way: If we don’t make these investments, our indebtedness increases and our children are effectively disadvantaged compared to our competitors. That is exactly what the crumbling infrastructure does. And our infrastructure crumbles.”
Industry welcomes plan
The Nuclear Innovation Alliance (NIA) welcomed Biden’s announcement of the American employment plan.
Judi Greenwald, Executive Director of NIA, said: “Among the broader investments in the energy sector, the plan would support the development and demonstration of advanced nuclear energy, a clean energy technology that will not only help meet mid-century climate goals, but also for those Ensuring a more resilient energy infrastructure in China is vital. ” the coming decades. “
She added, “The American Technology Plan specifically includes advanced nuclear energy as eligible for demonstration projects and builds on the ongoing activities of the Department of Energy and Industry to demonstrate the economic viability of next-generation nuclear energy.”
In a joint statement, Mary Lou Dunzik-Gougar, President of the American Nuclear Society, and Craig Piercy, CEO said, “The nuclear industry supports high-paying jobs that last for decades, and a growing global market for small, modular and advanced reactor designs promises job growth for the communities in the USA. “
Researched and written by World Nuclear News