Bipartisan Senate bill seeks to beef up U.S. international nuclear exports

Amid fears the United States is losing ground to rivals in world nuclear power markets, a group of Republicans and Democrats this week introduced the International Nuclear Energy Act.

“If the U.S. doesn’t lead on nuclear energy development, Russia and China will,” Sen. Jim Risch (R-Idaho) said in a Tuesday press release.

“This bill will give us the tools we need to compete with these authoritarian aggressors and  build long-lasting nuclear energy deals that benefit our economy and ensure America  remains the leader on nuclear energy for generations to come,” Risch said in the news release.

Among other things, the legislation would set up an office to coordinate civil nuclear exports strategy; seek to improve financing; streamline regulations and create a working group for exports. It also calls for a cabinet-level biennial summit focused on nuclear safety and security.

Other sponsors listed are Sen. Chris Coons (D-Del.), a member of the Senate Appropriations and Foreign Relations Committees, Sen. Mike Lee (R-Utah) and Sen. Martin Heinrich (D-N.M.). chair and ranking member respectively of the Senate Energy and Natural Resources Committee.

“With the International Nuclear Energy Act, we’re not asking for a seat at the table—we’re setting the agenda on global nuclear development,” Lee said in the same press release.

According to the text of the bill, the working group, which will report to the White House, will be part of a “whole of government strategy” to expand nuclear exports with friendly nations. The Civil Nuclear Trade Advisory Committee of the Department of Commerce, the Nuclear Energy Advisory Committee of the Department of Energy, and other advisory or stakeholder groups will be involved.

“Not later than 1 year after the date of enactment of this Act, the working group shall establish a 10-year civil nuclear trade strategy,” according to the Senate bill.

The Senate bill has similar objectives as the Nuclear Energy Financing Act that passed out of the House Financial Services Committee in March. Among other things, the House legislation would set up a nuclear trust fund at the World Bank.