Nuclear Plants Using Russian, Chinese Uranium to Lose Tax Credits

Nuclear power facilities that use uranium from China, Russia, North Korea or Iran will lose access to federal tax credits under legislation passed by Congress and awaiting President Donald Trump’s signature, as lawmakers move to reduce U.S. dependence on energy supplies from adversarial nations.

The “One Big Beautiful Bill Act,” which the House sent to Trump’s desk Thursday and he is scheduled to sign today, preserves billions in nuclear energy subsidies while imposing new restrictions on uranium sourcing — a contrast to the legislation’s cuts to wind and solar incentives.

Nuclear facilities can continue claiming up to $15 per megawatt-hour in production tax credits through 2031, but only if they avoid uranium from the four “covered nations.” Advanced nuclear projects that begin construction by 2029 remain eligible for additional clean energy credits.

The restrictions address longstanding concerns about US reliance on Russian uranium supplies. Much of the specialized fuel needed for next-generation reactors has historically come from Russia, creating supply chain vulnerabilities that lawmakers from both parties have sought to address.

Congress banned Russian uranium imports after 2028 in previous legislation and allocated $700 million through the Inflation Reduction Act to support expanded US uranium production capacity. The new law builds on those efforts by using tax policy to incentivize supply chain diversification.

The Congressional Budget Office estimates the legislation will add $2.4 to $2.8 trillion to the national debt over 10 years while extending Trump-era tax cuts and eliminating taxes on tips and overtime pay.



Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

Gold Drilling Scaled to 60,000 Meters: How Big Can This Get? | Roger Rosmus – Goliath Resources

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Recommended

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Related News

China Approves 10 Nuclear Reactors in $27 Billion Power Push

China has approved construction of 10 nuclear reactors worth nearly $27.4 billion, accelerating the world’s...

Wednesday, April 30, 2025, 12:44:00 PM

Denmark Rethinking 4-Decade Nuclear Ban Amid Green Transition Push

Denmark’s government is analyzing whether to end its 40-year ban on nuclear power, marking a...

Saturday, May 17, 2025, 07:32:00 AM

Microsoft, OpenAI Reportedly Plans $100-Billion Supercomputer Fueled by Nuclear Power

Microsoft (NASDAQ: MSFT) is reportedly gearing up to construct a colossal $100 billion data center,...

Thursday, May 9, 2024, 01:10:00 PM

Canada Adds Nuclear Energy to Green Bond Framework

In its 2023 Fall Economic Statement, the government of Canada announced an updated green bond...

Wednesday, November 22, 2023, 11:42:00 AM

A Nuclear Power Plant Meltdown In Ukraine Could Now Be A Real Risk

On March 3, Russian forces shelled the Zaporizhzhia commercial nuclear power plant in Ukraine, sparking...

Sunday, March 6, 2022, 05:03:00 PM