Senators McCormick, Kim Introduce Bill to Strengthen U.S. Global Nuclear Exports

WASHINGTON - U.S. Senators Dave McCormick (R-PA) and Andy Kim (D-NJ), Ranking Member of the Subcommittee on National Security and International Trade and Finance on the Senate Committee on Banking, Housing and Urban Affairs, yesterdayintroduced legislation to strengthen America's competitiveness in the global nuclear energy market as part of the reauthorization of the Export-Import Bank of the United States (EXIM). As global demand for reliable, clean energy grows, this bipartisan bill will strengthen the United States' ability to compete for and win nuclear energy projects around the world. As part of the reauthorization process, the American Competitiveness for Exports in Nuclear Energy, or ACE Nuclear Energy Act of 2026, would enhance the Export-Import Bank of the United States' (EXIM) ability to support U.S. nuclear energy exports.

"The global demand for reliable nuclear energy is growing, and American nuclear technology is ready to meet the challenge. China and Russia are aggressively expanding their nuclear footprint in global markets, and the United States must respond by strengthening our ability to compete for commercial nuclear projects abroad," said Senator McCormick. "The ACE Nuclear Energy Act of 2026 will drive America's energy competitiveness and help make the United States the partner of choice. When American companies win these projects, they support a strong domestic supply chain-from Pennsylvania to communities across the country-creating jobs, strengthening our industrial base, and reinforcing America's leadership in technology."

"Electricity demand is surging worldwide, and China continues bankrolling its own nuclear exports while we leave ourselves without the tools to compete. The ACE Nuclear Energy Act changes that, giving American exporters the financing and talent they need to win. This is how we lead the global energy race, create good American jobs, and grow our economy," said Senator Kim.

The initiative builds on momentum from the National Defense Authorization Act for Fiscal Year 2026, which included the International Nuclear Energy Act, directing federal agencies to develop and implement a coordinated strategy.

As part of EXIM's reauthorization, the American Competitiveness for Exports in Nuclear Energy (ACE Nuclear Energy) provisions would address key barriers facing U.S. nuclear companies:

• Unlocking Financing for Large-Scale Projects: Nuclear energy projects often require multi-billion-dollar investments. This legislation would create a targeted exemption from EXIM's statutory default rate cap, ensuring a single project does not shut down the agency's ability to approve new deals. This reform aligns EXIM with international counterparts, enabling support for projects in higher-risk, high-growth markets where private lenders often cannot operate.
• Strengthening Workforce Competitiveness: The bill would expand EXIM's ability to offer market-competitive pay for specialized staff,' helping the agency attract and retain the expertise needed to compete globally-similar to peer institutions like the U.S. International Development Finance Corporation.

The legislation positions the United States as a premier partner for countries seeking dependable, secure, and clean energy solutions while advancing American economic and strategic interests.

Read the full bill text here.

###