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Exclusive: Coal and nuclear firms seek billions in new tax credits

Illustration: Rebecca Zisser / Axios

Two separate lobbying pushes are underway urging Congress to create new multi-billion dollar tax credits benefiting virtually all coal and nuclear power plants across the United States. The price tags: up to $65 billion for coal and $4.8 billion for nuclear.

My thought bubble: The efforts show the aggressive lengths companies are going trying to survive in a hyper-competitive electricity market while also seeking to take advantage of President Trump's vows to boost coal and nuclear power, which has Republican backing in Congress. The tax credit proposals, which have not been publicly disclosed, face skepticism from others in the coal and nuclear industries and are sure to face criticism that they're handouts to legacy energy sources.