Latta Introduces Legislation Establishing National Uranium Reserve

Statement

Today, Congressman Bob Latta (R-OH5) introduced H.R. 7814, the Nuclear Prosperity and Security Act, legislation to direct the Secretary of Energy to establish and operate a uranium reserve in the United States that would ensure availability of uranium in the event of a market disruption and support strategic fuel cycle capabilities in the United States.

"In recent years, the United States has not kept pace with its allies and rivals in investing in nuclear power and, as a result, we've seen our competitive edge diminish," said Latta. "This is deeply concerning as it jeopardizes our national and economic security, as well as our global leadership. Furthermore, the COVID-19 pandemic has heightened the need to secure our electric grid and stop supply chain threats. It is imperative that we reinvest in our domestic nuclear industry and strengthen our supply chains, and that includes making sure the Department of Energy has the resources they need to support strategic fuel cycle capabilities. Establishing a domestic uranium reserve will result in lower carbon emissions, new jobs and economic growth, and a more secure world."

Congresswoman and House GOP Conference Chair Liz Cheney (R-WY) is an original cosponsor of the Nuclear Prosperity and Security Act in the House of Representatives. U.S. Senator John Barrasso (R-WY), chairman of the Senate Committee on Environment and Public Works (EPW), is leading the effort in the Senate to establish a uranium reserve in the United States.

"Wyoming uranium is essential to helping America restore our nuclear leadership," said Cheney. "I'm proud to cosponsor the Nuclear Prosperity and Security Act which fulfills a top policy recommendation made by the President's Nuclear Fuels Working Group. Establishing a national uranium reserve will bolster critical workforces and production, upholding them as a key component to U.S. national and energy security."

"A national uranium reserve is essential to ensure America always has the nuclear fuel we need," said Barrasso. "Government-owned uranium producers in Russia and its satellite states are undercutting uranium producers in Wyoming by unfairly flooding the market. We should never depend on our adversaries to supply our nation's nuclear fuel. A uranium reserve is critical for strengthening both America's energy and national security."

Energy and Commerce Committee Republican Leader Greg Walden (R-OR2) provided the following statement:

"Nuclear energy powers our everyday lives with emissions-free electricity and is vital for U.S. economic growth, energy security, and national security. This is why we must continue to strengthen our domestic nuclear industry and its infrastructure. The way we ensure continued prosperity and environmental protection for future generations is through innovation, and E&C Republicans will continue to lead the way in creating policies to make this a reality. I thank Rep. Latta for his leadership on the Nuclear Prosperity and Security Act."