Michigan lawmakers have approved the upcoming state budget, which earmarks money to restart operations at the Palisades nuclear power plant.
The spending plan, totaling $81.7 billion, primarily focuses on investing the state’s surplus in education, road repairs, and infrastructure improvements. However, the budget also designates $150 million towards the revitalization of the Palisades facility.
Holtec, the owner of Palisades, currently faces a shortfall of approximately $300 million necessary to reinstate plant operations. They are actively pursuing financial assistance from the U.S. Department of Energy loan office to facilitate the plant’s reactivation.
The budget also includes an increase of $611 million, equivalent to a 5% baseline raise, in per-pupil funding for schools. It also accounts for $233 million for water infrastructure upgrades and the replacement of lead water lines, along with $40 million dedicated to affordable housing development and additional funding for park initiatives.
