Taxpayers can breathe a sigh of relief knowing the Trump administration has scrapped a plan to bail out a handful of struggling coal and nuclear companies. According to a draft Trump administration memo released earlier this spring, the Department of Energy (DOE) was preparing to bail out a few well-connected, but economically uncompetitive power plants - a move that would greatly expand the role of government and leave taxpayers and ratepayers on the hook for the cost. Administration officials originally justified this move in the interest of “national security” but reports this weekindicate that the DOE’s plan to intervene in U.S. power markets has been shelved due to growing opposition from advisers on the National Security Council and National Economic Council.
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