Preamble:
This act is designed to empower the United States to become the global leader in sustainable nuclear energy, specifically through the development of thorium-based reactors and advanced fusion technologies. Rather than relying on centralized government programs, this act focuses on incentivizing private innovation, empowering communities, and promoting individual and corporate participation to achieve affordable, clean, and reliable energy for all Americans. By dissolving the Department of Energy, the act redirects resources and authority directly to the people, businesses, and scientific communities to accelerate energy independence.
Title I: National Nuclear Energy Empowerment Initiative
- Objective:
Make the U.S. a global leader in thorium reactor development and fusion technology by creating incentives for private individuals, companies, and educational institutions to innovate, build, and operate advanced nuclear systems.
- Thorium Reactor Development Incentives:
• Tax Incentives: Provide tax credits of up to 50% for businesses and entrepreneurs that invest in the development, testing, and construction of thorium-based reactors.
• Crowdfunding Nuclear Innovation: Allow citizens to invest directly in nuclear projects with tax-free returns on investments up to $100,000 for individuals. Create platforms that allow ordinary people to participate in funding reactor development.
• Accelerated Permitting: Reduce bureaucratic barriers by fast-tracking permits and approvals for thorium reactor construction while maintaining high safety standards through independent, community-driven safety boards.
- Fusion Energy Research Incentives:
• Fusion Prizes: Establish a $50 billion “Fusion Innovation Fund,” where individuals, teams, and companies that make significant progress in fusion energy research and commercialization will receive large-scale monetary rewards.
• Private Fusion Grants: Allow private companies, philanthropists, and venture capitalists to contribute to a collective fund for fusion research, with contributions deductible from federal income taxes.
Title II: Thorium Mining and Resource Allocation
- Thorium Mining by the People:
• Mining Co-op Models: Encourage local communities to form cooperatives to mine and process thorium, offering subsidies for up to 70% of initial costs and profits directly shared with participating community members.
• Individual Thorium Mining Rights: Grant individual landowners the right to mine thorium on their property, with minimal federal oversight, and incentivize individuals through tax-free profits for up to 10 years on thorium extraction.
• Environmental Protections via Private Watchdogs: Replace government-run environmental regulation with independent, private watchdog groups chosen by local communities to oversee sustainable mining practices and mitigate any environmental impacts.
- Thorium Trade and Industry:
• Domestic Trade Incentives: Eliminate tariffs and export restrictions on thorium and other nuclear-related materials. Offer tax breaks for companies that prioritize the use of American-sourced thorium and uranium.
• Strategic Thorium Reserve: Establish a privately managed Strategic Thorium Reserve, funded through voluntary industry contributions, to ensure stable supplies and price stability for future energy production.
Title III: Research and Innovation by the Private Sector
- Decentralized Research Funding:
• Private Research Incentives: Encourage private-sector funding of research into thorium and fusion technologies by offering full tax deductions for research expenditures. Companies investing more than 10% of their profits into nuclear R&D will be eligible for a 5-year tax holiday.
• University and Industry Collaboration: Provide universities and research institutions with the ability to partner with private companies through financial incentives, offering tax-free collaboration agreements. Private investors in these research collaborations can receive up to a 25% return on their investment in the form of tax credits.
- Nuclear Innovation Challenges:
• Launch a series of national and international competitions where teams can win up to $1 billion for developing the most effective, efficient, and scalable nuclear technologies, with categories for thorium reactors, fusion technology, and waste minimization.
Title IV: Community Empowerment and Energy Accessibility
- Decentralized Energy Production:
• Thorium Micro-Reactors: Encourage local entrepreneurs, communities, and small businesses to develop and deploy micro-reactors powered by thorium. Offer grants and tax exemptions to communities willing to implement these reactors for local energy needs.
• Energy Cooperatives: Establish a model for nuclear energy cooperatives, allowing communities to come together to fund and operate local thorium or fusion reactors. Profits from these reactors would be distributed among community members in the form of reduced energy bills or direct payments.
- Energy Independence Credits:
• Citizen Energy Bonds: Allow citizens to purchase energy bonds to finance nuclear projects, with guaranteed returns based on the reactor’s energy production. Individuals could earn energy credits, reducing their own electricity bills.
• Low-Income Energy Rebate: Create a voluntary system where private companies and energy cooperatives offer discounted rates for low-income households. Participants receive tax breaks based on the percentage of energy provided at a lower cost.
Title V: Education, Workforce, and Public Awareness
- Workforce Training Grants:
• Establish a system of grants for private companies, educational institutions, and trade schools to train workers in nuclear technology, focusing on thorium reactor construction, operation, and maintenance. For every $1 spent on training, companies will receive a 50-cent tax credit.
• Encourage the creation of nuclear apprenticeships that allow individuals to gain hands-on experience working with nuclear technologies. Companies offering apprenticeships can qualify for wage subsidies.
- Nuclear Literacy Campaign:
• Launch privately funded media and outreach campaigns to educate the public on the benefits of thorium and fusion energy, highlighting safety, environmental benefits, and long-term affordability.
• Provide tax breaks for media organizations, influencers, and non-profits that promote positive and factual information about nuclear energy, focusing on dismantling misconceptions and fear-based narratives.
Title VI: Market-Driven Affordability and Safety
- Market Competition for Low-Cost Energy:
• Establish competitive markets for nuclear energy production, with private companies competing to offer the lowest energy prices to consumers. Any company that can deliver energy at less than 5 cents per kilowatt-hour will receive a 10-year federal tax exemption on profits from energy sales.
• Encourage the development of low-cost reactor designs through open-source technology sharing between private companies, allowing for faster innovation and cost reduction.
- Safety Standards by Industry:
• Dissolve the Nuclear Regulatory Commission (NRC) and replace it with independent, industry-funded safety boards. These boards will be comprised of nuclear experts and representatives from both the public and private sectors to oversee reactor safety, environmental protection, and waste management.
• Require insurance companies to oversee safety protocols, ensuring that only the safest designs receive coverage and encouraging rigorous safety standards through market incentives.
Title VII: Environmental and Waste Management
- Private Sector Waste Reduction Innovation:
• Offer substantial rewards to companies that develop waste minimization technologies, such as recycling spent nuclear fuel or creating near-zero waste reactors. Private research teams can compete for a $10 billion prize for the most effective waste reduction solution.
• Allow private companies to develop, own, and operate waste storage facilities, with strict environmental standards monitored by independent watchdogs. Tax breaks will be provided for companies that develop long-term, safe waste management solutions.
- Environmental Conservation Credits:
• Create a system of “Environmental Conservation Credits” where companies that demonstrate sustainable mining and minimal environmental impact can sell these credits to other industries that require carbon offsets. This market-driven approach promotes nuclear energy while encouraging overall environmental responsibility.
Title VIII: Dissolution of the Department of Energy
- Resource Reallocation:
• The Department of Energy (DOE) will be dissolved, with all funding previously allocated to the DOE redirected to tax incentives, grants, and private sector energy initiatives outlined in this act.
• A portion of the DOE’s budget will be used to establish a “Nuclear Innovation Fund,” managed by a coalition of private investors and scientists to oversee nuclear R&D funding distribution.
- Oversight and Accountability:
• All nuclear energy policies, safety regulations, and research initiatives will be managed by independent, private, and community-driven organizations. Annual reports from these organizations will be made available to the public to ensure transparency and accountability.